Value Management Of Construction Projects

Value Management is a philosophy, set of principles and a structured management methodology for improving organisational decision-making and value-for-money

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An Appendix includes an extensive set of tools and techniques of use in Value Management practice

Changes in Value Management practice particularly in Programmes and Projects

Construction clients, including those in both the public and private sectors, and professionals such as construction cost consultants, quantity surveyors, architects, asset managers, construction engineers, and construction managers will all find Value Management of Construction Projects to be essential reading

Developments in the theory of value, principally value for money measures, whole life value option appraisal, and benefits realisation

In particular, the new edition responds to A range of recent UK industry and government publications and most notably BS EN 16271 2012 Value management Functional expression of the need and functional performance specification the imminent update of BS EN 12973 2000 Value Management BS EN 1325 Value Management Vocabulary, Terms and definitions the changes to Value for Europe governing the training and certification of Value Management in European Union countries the UK Government s Management of Value MoV initiative, together with other leading reports

In this book the authors have addressed the practical opportunities and difficulties of Value Management by synthesising the background, international developments, benchmarking and their own extensive consultancy and action research experience in Value Management to provide a comprehensive package of theory and practice

Initiatives in asset management initiatives covering the management of physical infrastructure, for example the recent launch of a suite of three standards under the generic title of BS ISO 55000 2014 Asset Management, and its predecessor BSI PAS55 2008 Asset Management Specification For The Optimized Management Of Physical Assets The second edition contains a dedicated chapter of exemplar case studies drawn from the authors experience, selected to demonstrate the new areas of theory and practice

It has been thoroughly updated, and a number of new chapters added to encapsulate further extensions to current theory and practice

It will also be of interest to researchers and students on construction rela

Research in Value Management undertaken since publication of the first edition

The second edition builds on the success of the first edition by extending the integrated value philosophy, methodology and tool kit to describe the application of Value Management to the areas of service delivery, asset management, and, Programmes, in addition to Projects, products and processes

The second edition retains the structure of the first edition, covering methods and practices, frameworks of value and the future of value management

Value Management is a well-established methodology in the international construction industry, and in the UK has been endorsed as good practice in a range of government sponsored reports

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