Abstract reasoning

, 63

Arabian Gulf Chapter (AGC)

, 170

Association of General Contractors (AGC)

, 82

Australia

, 31

application of VM in

, 34–36

benefits of VM in construction in

, 39–41

best value for money

, 38

construction industry

, 38–39

project performance through VM in

, 41–42

value analysis

, 33–34, 37

value control

, 37

value engineering

, 33–34, 37–38

value management in

, 31–33

value methodology

, 36–37

value planning

, 37

Australia Institute of Value Management (IVMA)

, 6–7

Australian dollar (AUD)

, 31

Basic point method

, 134

Behavioural pattern and moments

, 150–151

Best value. See also Hard value

for Scotland

, 100

VM and

, 52

Bounded rationality

, 15–16

Brainstorming technique

, 52–53, 223

Building information modelling (BIM)

, 215

Business

process re-engineering

, 101

value

, 171

Canada

, 45

barriers to VM practices in

, 50

clients’ awareness and knowledge level of VM

, 51

contractual arrangement/procurement option

, 50–51

relationship and communication amongst stakeholders

, 51

solutions and recommendations

, 52

time and cost incurred during VM exercise

, 51

value management and sustainability

, 53

value management methodology

, 51

VM and best value

, 52

VM and projects

, 47–49

VM and sustainable built environment industries

, 49–50

VM as risk management tool

, 52–53

VM in

, 45–47

Challenges

, 161

Charette procedure

, 47–48

China

, 127

constraints in VM application in

, 132–134

value management in

, 127–130, 132

value techniques

, 134

VM activities implementation

, 135–136

VM application

, 135

Client value systems

, 20–21

Commissioning value

, 171

Commitment

, 205

Communicative social vogue

, 62–64

Competencies

, 219–220

Compulsory Competitive Tendering (CCT)

, 98

Concurrent workshop

, 48

Conjoint analysis

, 101

Consensus building

, 22–23

Construction industry

in Northern Cyprus

, 81–82

in UAE

, 203–204

Construction Industry Development Board (CIDB)

, 88–89, 148–149

Construction projects

, 201–203

Construction Specialist

, 204–205

Constructional value

, 171

Contractual arrangement/procurement option

, 50–51

Corporate value

, 171

Corrective Services Canada

, 49

Council of Tall Buildings and Urban Habitat (CTBUH)

, 203

Creative phase

, 10, 123, 142

Creative techniques in Scotland

, 103

Culture

, 205

in Northern Cyprus

, 82–83

Cybernetic metaphors

, 22–23

Delphi method

, 105

Department of Public Works and Services (DPWS)

, 34

Department of Public Works Canada (DPWC)

, 48–49

Design value

, 171

Development phase

, 11, 143

VM in Scotland

, 103

Developmental stage

, 122

Director of Water Supplies (DWS)

, 70

Earned value analysis

, 105–106

Economic Planning Unit (EPU)

, 88–89, 148–149

Effective facilitation

, 11–12

Efficiency

, 202–203

Elementary skills gap analysis

, 105

End User

, 204–205

England in United Kingdom

, 109

application of VM in

, 111

features of VM studies in

, 111

metamorphosis of value engineering

, 111

problems in VM

, 114

resources to VM

, 112–113

VE

, 110–111

VM in

, 109–110, 112

Environment

, 161, 205

Estidama regulation

, 205

Evaluation

phase

, 142

stage

, 123

Facilitator

, 72–73

Feasibility value

, 171

Federal Capital Territory (FCT)

, 153

Fee evaluation

, 65

Follow-up actions

, 75–76

40 hours study

, 48

Fragmentation

, 202

France

, 55

benefits of VM

, 59–61

communicative social vogue

, 62–64

fields of potential vital value managers

, 61–62

historical genealogy of VM

, 56

promotion of VM services

, 65–66

VM in

, 55–57, 59

VM procedure and process

, 64–65

Function

, 97

Function analysis phase

, 9–10

Function Analysis System Technique (FAST)

, 68–69, 106, 140, 142

Function performance specification (FPS)

, 141

Function(al) analysis (FA)

, 97, 122, 142

in Scotland

, 103

Functional performance specification

, 106–107

Functional tree diagram

, 103

Garden City of West Africa. See Ghana

General Electric

, 56

General Electric Company (GEC)

, 4–5, 79, 96–97

Ghana

, 137

adoption level of VM in

, 139–141

historical development of VM

, 138–139

VM implementation strategies

, 144–145

VM in

, 137–138

VM in Ghanaian construction industry

, 139, 143–144

VM process phases

, 141–143

Globalization in Northern Cyprus

, 82–83

Gross domestic product (GDP)

, 115

Gulf Cooperation Council (GCC)

, 170

Hard systems

approach

, 17

paradigm

, 14

Hard value

creation

, 19

management

, 15–16

Hong Kong

, 67

facilitation of VM workshop

, 74–75

follow-up actions

, 75–76

history of value management

, 68–69

HKIVM

, 76–77

post-workshop actions

, 73

pre-workshop preparation

, 71–72

projects

, 70

projects implementation with VM in

, 69

value management in

, 67–69, 76

VM applications in WSD

, 71

VM workshops

, 72–74

water supply projects

, 70

Hong Kong Institute of Value Management (HKIVM)

, 75–77, 96–97

Hong Kong Special Administrative Region (HKSAR)

, 70

Illusions of rationality

, 21–22

Implementation phase

, 143

Information and communication technology (ICT)

, 3–4

Information phase

, 9, 122, 142

in Scotland

, 102

Information technology

, 80

Institute of Value Management (IVM)

, 34, 96–97, 117

Institute of Value Management in Australia (IVMA)

, 5, 34

International Association of Exhibitions and Events (IAEE)

, 170

International Centre for Sustainable Cities (ICSC)

, 202

Iron triangle

, 15

Issues

, 161

Job Plan

, 33, 72

of VM

, 97

Judgement phase

, 10–11

Knowledge

, 219–220

Knowledge management (KM)

, 3–4, 42

Lean construction

, 214–215

LEED certification

, 203

Life cycle cost(ing)

, 59, 97, 214

Locality in Northern Cyprus

, 82–83

Malaysia

, 147

behavioural pattern and moments

, 150–151

construction industry

, 149

definition of value management

, 149

historical growth of Malaysian VM

, 148–149

VM in

, 147–148

workshop process

, 150

Malaysia Construction Sector (MCS)

, 149

Management awareness

, 205

Mathematical methods

, 133–134

Metamorphosis of value engineering

, 111

Metaphors of VM

, 22–23

Ministry of Municipal and Rural Affairs (MOMRA)

, 169

Multidisciplinary and team dynamics

, 97

Multidisciplinary attempt

, 58

Net present value (NPV)

, 15–16

New Jersey Department of Transportation (NJDOT)

, 120

Nigeria

, 153

behavioural elements of VM participants in workshops

, 164–165

benefits of value management

, 163–164

challenges facing value management in

, 162

drivers of value management

, 156–158

importance of value management in construction projects

, 158–160

requirement for value management

, 160–161

VM in

, 155–156

Northern Cyprus

, 79

advantages of VM

, 89

assertion of VM in

, 87–88

construction industry

, 80–82

cost

, 86

culture, globalization and locality

, 82–83

financial advantages of VM

, 89

function

, 85–86

perception of VM

, 88–89

terms in value management

, 85–87

unquantifiable benefits of VM

, 90

value

, 87

value management in

, 79–80, 84

value management precision

, 85

value perception

, 84–85

VM in building construction industry of

, 83–84

VM in construction sector of

, 90

VM methods and tools

, 89

worth

, 86–87

Oldest Continent

, 31

Operational research (OR)

, 19

Optimal value zones

, 134

Orientation phase

, 141–142

Pareto’s law of mal-distribution

, 134

People

, 161

Perfect Project, The

, 117

Pluralism

, 19–20

Political metaphors

, 22–23

Post-study

, 11

Post-VE workshop study in United States of America

, 123

Post-workshop. See also Pre-workshop

, 11, 53

actions

, 73

in Scotland

, 104

Pre-VE workshop study stage in United States of America

, 121

Pre-workshop

phase

, 8–9

preparation

, 71–72

in Scotland

, 102

stage

, 53

Precision, lack of

, 221

Present value

, 59

Presentation phase

, 122, 143

Problem-structuring methodology

, 17

Process

, 161

Project

, 7

completion

, 20–21

models of project management

, 14–15

value creation

, 15

Quantity Surveyor (QS)

, 45–46, 59

Ranking

, 134

Rationality, illusions of

, 21–22

Reduced sum

, 59

Risk assessment

, 10

Risk Management (RM)

, 52, 214

VM as risk management tool in Scotland

, 101

VM as RM tool

, 52–53

Role storming

, 223

Royal Institution of Chartered Surveyors (RICS)

, 87, 139

Saudi Arabia

, 167

application

, 174

barriers

, 173

factors

, 172

history

, 169–170

importance

, 172

phases of value management processes

, 170–172

reasons

, 174–175

regulatory body

, 170

solutions

, 173

value management

, 167–168

value manager

, 174

Saudi Public Sector (SPS)

, 167–168

Saudi riyal (SR)

, 167

SCAMPER

, 106

Scotland

, 95

business process re-engineering

, 101

challenges

, 104

conjoint analysis

, 101

Delphi method

, 105

design to cost/design

, 105

dots

, 105

earned value analysis

, 105–106

functional performance specification

, 106–107

historical development of VM

, 96–97

plus, minus in workshops

, 104–105

rewards and benefits of VM

, 104

team roles in VM team in

, 99

value management and best value

, 100

value management in

, 95–96, 98–99

VM and projects

, 100–101

VM as risk management tool

, 101

VM in construction industry

, 97

VM procedures

, 101–102

VM tools

, 101

VM workshop

, 102–104

Selection of facilitator

, 26

Self character of value management

, 63–64

Self-encouragement

, 62–63

Shared social reality

, 21–22

Simple Multi-Attribute Rating Technique (SMART)

, 69, 106

value management

, 16–17, 21–22

Society of American Value Engineers (SAVE)

, 58, 116

Soft scheme

, 79–80

Soft systems methodology (SSM)

, 16–17, 19, 106

Soft techniques

, 19

Soft value creation (SVC)

, 19

Soft value management

, 16–17

criticisms of

, 17–18

South Africa

, 177

construction industry

, 181–183

expertize and status of VM in construction projects

, 180–181

value management

, 177–180

ways to improving project performance

, 183–184

Speculative phase. See Creative phase

Sri Lanka

, 185

present state

, 186–188

purpose

, 190–192

reasons for poor application

, 189–190

solutions to challenges

, 190

value management

, 185–186, 188–189

Stakeholders

, 26, 72–73

analysis

, 107

Strategic phase

, 171

Strategic selection

, 16–17

Strength weakness opportunity and threat analysis (SWOT analysis)

, 107

Structure, VM team

, 13

value as social construct

, 13–14

Sustainability

, 49–50, 194, 201, 203–204

value management and

, 53

Sustainable construction (SC)

, 187, 194, 197–198

framework for integration of

, 198–200

integrating sustainability concepts and value planning for

, 200–201

System

, 97

Systematic process

, 58

Tactical stage

, 171

Team roles in VM team in Scotland

, 99

Teamwork metaphors

, 22–23

Technical Feasibility Statement (TFS)

, 74

Three-dimensional computer models (3D computer models)

, 215

Three-stage

logical frameworks

, 98

VE process

, 120–123

Through-life value creation

, 15–16

Time

, 218, 220–221

constraints

, 39

Total coast. See Reduced sum

Total Quality Management (TQM)

, 178

Tough method technique

, 79–80

Training in VM

, 156–157

Turkish Contractors Association

, 83–84

Turkish Republic of Northern Cyprus (TRNC)

, 79

Ultimate cost. See Reduced sum

United Arab Emirates (UAE)

, 193

conceptual link between sustainable construction and value planning

, 197–198

construction stage

, 205–206

design stage

, 204–205

effect of environment and culture

, 207

framework for integration of sustainable construction and value planning

, 198–200

integrating sustainability concepts and value planning for sustainable construction

, 200–201

sustainability and construction industry in

, 203–204

sustainability and construction projects

, 201–203

sustainable construction

, 194

value management

, 193, 204

value planning

, 196–197

values in construction

, 194–196

United States of America

, 115

benefits of VM

, 119–120

challenges to VE

, 118–119

history of value management

, 116–117

three-stage VE process

, 120–123

value

, 117

value engineering in

, 116

value management in

, 115–116

VM/VE team

, 120

Universiti Teknologi Malaysia (UTM)

, 96–97, 148

User value system

, 172

Value. See also Hard value

, 15, 84, 97, 117, 188

in construction

, 194–196

graph

, 134

manager

, 174

methodology

, 36–37

perception in Northern Cyprus

, 84–85

production

, 14–15

system of construction project

, 7

techniques

, 64, 134

Value analysis (VA)

, 4, 36–37, 46, 56, 59, 96, 186

in Australia

, 33–34

Value control

, 37, 65

Value creation

, 20–21

Value engineering (VE)

, 5, 31–32, 36–38, 46, 64, 79–80, 110, 115–116, 138, 171, 186, 195–196, 211, 215, 217

Audit

, 48

in Australia

, 33–34

benefits to clients and delivery teams

, 212

BIM

, 215

comparison of features

, 212

competencies and knowledge

, 219–220

complexity of interconnected projects

, 225

facilities

, 220

lack of precision

, 221

lean construction

, 214–215

life cycle costing

, 214

metamorphosis of

, 111

potential problems

, 220

process

, 221–222

relationship to other project management activities

, 214

resources

, 217

risk management

, 214

similarities

, 213

specifics of situation

, 218–219

stakeholders

, 222

time

, 218, 220–221

in United States of America

, 116, 121, 123

Value Engineering Management Society of South Africa (VEMSSA)

, 178

Value Engineering Workshop

, 204

Value Engineering-General Terms and Work Program

, 96–97

Value for Money (VFM)

, 87, 148–149

Value management (VM)

, 3, 31, 33, 45–46, 110, 153, 155, 211, 215, 217

aims and objectives of

, 24

applications

, 23

applications in WSD

, 71

attributes of good facilitator

, 12

barriers to

, 26–27

benefits to clients and delivery teams

, 212

best performing particular function

, 25

BIM

, 215

in Canada

, 46–47

challenges to

, 118–119

characteristics of

, 23

in China

, 127–130, 132

client value systems

, 21

comparison of features

, 212

competencies and knowledge

, 219–220

complementary ways

, 19

complexity of interconnected projects

, 225

in construction industry

, 24

cost of project

, 24

in countries

, 6–7

criticisms of soft VM

, 17–18

duties of value managers

, 24

effective facilitation

, 11–12

elements

, 25

in England

, 109–110

evolving models of project management

, 14–15

exercise

, 50–51

facilitation skills and workshop techniques

, 223

facilitation techniques

, 223

facilities

, 220

in France

, 55–56

in Ghana

, 137–138

hard value management

, 15–16

historical genealogy of

, 56

in Hong Kong

, 67–68

ideas

, 223–224

illusions of rationality

, 21–22

integration of value management to project programme

, 204

lack of precision

, 221

large-scale VM programs

, 224

in late 1940s

, 4–5

lean construction

, 214–215

life cycle costing

, 214

in Malaysia

, 147–148

metaphors of

, 22–23

as methodological management style

, 20–21

methodology in Canada

, 51

nature of construction projects

, 25

in Nigeria

, 155–156

in Northern Cyprus

, 79–80

original design team

, 25–26

pluralism

, 19–20

post-study

, 11

post-workshop

, 11

potential problems

, 220

practice

, 211–212

pre-workshop phase

, 8–9

precision

, 85

principle

, 5

process

, 221–222

project value creation

, 15

relationship to other project management activities

, 214

resources

, 217, 225

risk management

, 214

risks with

, 24

in Saudi Arabia

, 167–168

in Scotland

, 95–96, 98

screening and prioritizing ideas

, 224

selection of facilitator

, 26

similarities

, 213

soft value management

, 16–17

South Africa

, 177–180

specifics of situation

, 218–219

Sri Lanka

, 185–186, 188–189

stage of

, 26

stakeholders

, 222

study requirements

, 12–13

team member

, 25

team structure

, 13

teamwork process

, 6

time

, 218, 220–221

time and cost incurred during

, 51

UAE

, 193, 204

in United States of America

, 115–116

value creation

, 20

value engineering

, 5

value system of construction project

, 7

VM study

, 7–11

workshop

, 9–11

workshops in Hong Kong

, 72–74

Value Management Change Proposal (VMCP)

, 48

Value Management Incentive Program

, 221

Value planning (VP)

, 36–37, 64–65, 186, 196–198

framework for integration of

, 198–200

Virtual reality (VR)

, 156–157

Waste management

, 80

Water Supplies Department (WSD)

, 69–70

VM applications in

, 71

Water supply projects

, 70

Whole Life Costing in Construction (WLCC)

, 92

Workshop

creative phase

, 10

development phase

, 11

function analysis phase

, 9–10

information phase

, 9

judgement phase

, 10–11

stage

, 53

of VM

, 9–11

World Health Forum

, 83

World Trade Organization (WTO)

, 131