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Value Management Integration for Whole Life Cycle: Post COVID-19 Strategy for the UK Construction Industry

Author

Listed:
  • Kieran Bennett

    (School of Engineering and the Built Environment, Birmingham B4 7XG, UK)

  • Mohammad Mayouf

    (School of Engineering and the Built Environment, Birmingham B4 7XG, UK)

Abstract

Value management (VM) and its integration in the whole life cycle (WLC) have become huge concepts for construction projects to provide additional value of an asset for the end user or client. However, the role of VM and its integration as part of the WLC in a construction project remain reactive, and highly impacted by nature of the project, and this has become more challenging with the epidemic impact of COVID-19. This research aims to investigate the mechanisms that delivers value management as part of the “re-invent” strategy proposed by the Construction Leadership Council in the UK government to improve WLC for buildings. In addition to existing secondary data from the literature, primary data were attained using a focus group with six quantity surveyors from different cost consultancies in the UK to gather qualitative evidence using their experiences, perceptions, and key challenges they face when integrating VM. Findings revealed that value management is primarily being used as a cost-cutting tool, the majority of quantity surveyors lack knowledge of what it encompasses, hence the industry needs a more proactive strategy towards it. Analysis revealed that value management is primarily implemented as a cost-cutting solution, key stakeholders (e.g., facility managers) need to be integrated, and there is no standardised process to incorporate value management in projects. The study proposes a four-dimensional (governance and policies, sustainability, industry’s best practice, and innovation and technology) strategy to facilitate more holistic considerations of value management post COVID-19. Future work looks into evaluating the strategy proposed while acknowledging different procurement routes.

Suggested Citation

  • Kieran Bennett & Mohammad Mayouf, 2021. "Value Management Integration for Whole Life Cycle: Post COVID-19 Strategy for the UK Construction Industry," Sustainability, MDPI, vol. 13(16), pages 1-26, August.
    • Handle: RePEc:gam:jsusta:v:13:y:2021:i:16:p:9274-:d:616744
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    References listed on IDEAS

    as
    1. Robert Ellis & Gerard Wood & David Keel, 2005. "Value management practices of leading UK cost consultants," Construction Management and Economics, Taylor & Francis Journals, vol. 23(5), pages 483-493.
    2. Andreea Constantinescu & Simona Frone, 2014. "The role of technological innovation in sustainable economic development," Journal of Knowledge Management, Economics and Information Technology, ScientificPapers.org, vol. 4(1.1), pages 1-13, February.
    3. Mei-Yung Leung & Anita Liu, 2003. "Analysis of value and project goal specificity in value management," Construction Management and Economics, Taylor & Francis Journals, vol. 21(1), pages 11-19.
    4. Hamed Taherdoost, 2016. "Sampling Methods in Research Methodology; How to Choose a Sampling Technique for Research," Post-Print hal-02546796, HAL.
    Full references (including those not matched with items on IDEAS)

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