Value Management of Construction Projects / Edition 1by John Kelly, Steven Male, Drummond Graham
Pub. Date: 03/08/2004
This book presents an integrated value philosophy, methodology and tool kit for improving project delivery for construction clients. The book draws together insights from over 200 value studies conducted by the authors across a range of projects varying in size from £1m to over £1bn and procurement routes including partnering, PFI, prime contracting and
This book presents an integrated value philosophy, methodology and tool kit for improving project delivery for construction clients. The book draws together insights from over 200 value studies conducted by the authors across a range of projects varying in size from £1m to over £1bn and procurement routes including partnering, PFI, prime contracting and Procure 21. This practical experience is integrated with extensive research and analysis of standards and best practice worldwide. The standards include specifically the British Standard on value management, BS EN 12973:2000, and SAVE International’s Standard for the Value Methodology.
The book examines in detail the value process, function analysis and team dynamics, proposes a method for determining the client’s value system, and presents solutions to undertake value studies at different stages of the project.
Value management has become a well established tool in the construction industry; it has been endorsed in ‘Rethinking Construction’, the Egan Report, published in 1998, in ‘Modernising Construction’, published by the National Audit Office in 2001, and in ‘Accelerating Change’, the Egan update, published in late 2002. Now is an appropriate time to take stock and summarise the developments in value management and record robust models for its practice in construction. The book will be of interest to clients in the private and public sectors, consultants, VM practitioners, researchers, and senior undergraduates and postgraduates across all the construction disciplines.
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Table of Contents
Preface; Introduction; Definition; Developments in value management; Developments in UK construction; Developments in value management practice; The aims and objectives of this book; References; Part I Method and Practice; Developments in Value Thinking; Introduction; Background; The global development of value management; Value engineering and value management: an overview of terminology and definitions; The international benchmarking study of value management; Conclusion; References; Function Analysis; Introduction; Strategic function analysis: the mission of the projects; Strategies, programmes and projects; Function diagramming; Kaufman’s FAST diagramming; Functional space diagramming; Elemental cost planning and elemental cost control; Element function analysis; Element function debated; Conclusion; References; Bibliography; Index
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