Value management (VM) is a structured, team-oriented approach to problem solving that can be applied to the concept, design, construction and on-going management phases of a project. The primary reasons for any client or consultant to commission a VM study is to achieve value improvements and/or monetary savings. The Framework documentThis has been developed from an international benchmarking exercise of VM processes, procedures, tools and techniques used in construction and manufacturing. It presents clear, step-by-step procedures for undertaking the VM process on construction projects.
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The Value Management Benchmark Value management (VM) is a team-oriented approach to problem solving that can be applied to the concept, design, construction and on-going management phases of a project. This text presents procedures for undertaking VM process on construction projects and highlights requirements at specific 'value opportunity' points in the project life cycle.
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