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

Kieran Bennett and Mohammad Mayouf
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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

Sustainability, 2021, vol. 13, issue 16, 1-26

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.

Keywords: value management; whole life cycle; strategy; COVID-19 (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
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