We recommend Value Management (VM) during the entire procedure to create the best value on the project. VM has been widely used on more and more construction projects all over the world, particularly major ones. Through a value management workshop, the client can rest assured that better outcomes from his investment on the building or project would be achieved in the end.
Value management is a structured, systematic and analytical process which seeks to achieve value for money by providing all of the necessary functions at the lowest total cost consistent with the required levels of quality and performance. (AS/NZS4183, 1994)
Value management definition is developed from value engineering and value analysis. All of them are based on teamwork. Since value is equal to function divided by cost, value management focuses on either raising function or deducting cost.