The understanding and practice of value management by South African construction and project managers : exploratory findings

• Published in: Journal of Contemporary Management Vol. 7; no. 1; pp. 347 - 362
• Main Authors: Bowen, P.A, Edwards, P.J, Cattell, K.S, Jay, I.C
• Format: Journal Article
• Language: English
• Published: JCMAN 01.01.2010
• Subjects: Construction and project managers; South Africa; Value management
• ISSN: 1815-7440
• DOI: 10.10520/EJC51077

The nature and extent of value management (VM) practice by professional construction managers and construction project managers in South Africa is investigated using a web-based, online questionnaire survey. The survey explores managers' awareness and understanding of VM, and the nature and extent of the use of VM techniques within their organisations. Descriptive statistics are used to analyse the survey response data. The results suggest that awareness of VM is not widespread among construction managers and construction project managers, and that its actual practice is minimal. This is due largely to the encroachment on the traditional aims of VM by other project management techniques that also seek to facilitate the attainment of value for construction clients. Where VM is used on projects, it is invariably cost-minimisation driven in terms of both the project and the VM process itself. It is recommended that the professional association responsible for the regulation of the activities of construction and project managers should organise suitable training opportunities in value management.