Value Management of Construction Projects.

Cover -- Title Page -- Copyright Page -- Contents -- Preface -- Glossary -- Part 1: Introduction and Evolution of Value Management -- 1 Introduction -- 1.1 The aims and objectives of the book -- What has changed from edition 1 -- The objectives of the second edition -- Audiences for the second edition -- 1.2 Developments in UK construction -- 1.3 Developments in value management -- Value management -- Developments in value management practice -- 1.4 The structure of the second edition -- References -- 2 Evolution of Value Engineering and Value Management -- 2.1 Introduction -- 2.2 Historical background -- 2.3 Definitions, terminology and practice - Phase 1: 1947 to 1963 -- 2.4 Definitions, terminology and practice - Phase 2: 1963 to 1989 -- 2.5 Definitions, terminology and practice - Phase 3: 1989 to 2014 -- 2.6 The Project, Portfolio or Programme of projects -- 2.7 The 1998 international benchmarking study of VM and VE -- Description of the study -- Points in the project process for the application of value management -- Benchmarked requirements for a successful value management process -- Conclusion of the 1998 benchmarking study -- 2.8 Standards and procurement guidance -- British and European (BS EN) Value Management Standards -- UK OGC achieving excellence in construction procurement guidance -- The UK Cabinet Office Management of Value -- The SAVE International value methodology standard -- ASTM standards -- The Australian value management standard AS 4183 -- 2.9 International research into value management -- 2.10 Implications for value management and value studies -- Introduction -- Factors to be considered in a value study -- Cost -- Worth -- Function -- Value -- Teams -- 2.11 Conclusions -- References -- Part 2: The Anatomy of a Value Study -- 3 Value Study Styles -- 3.1 Introduction -- 3.2 The inception of a project.

3.3 The specification and procurement of a value study -- 3.4 Value studies within the project management process -- 3.5 The three generic phases of a value study -- The Orientation and Diagnostics phase -- The value workshop phase -- The implementation phase -- 3.6 Study styles, processes and deliverables -- 3.7 Project development tracks -- 3.8 Value study type 1: Strategic briefing (project planning and business definition) -- Orientation and Diagnostics phase -- The value workshop phase -- Implementation meeting/workshop -- 3.9 Value study type 2: Project briefing (the technical specification) -- Orientation and Diagnostics stage -- The value workshop stage -- Indicative agenda -- Implementation meeting/workshop -- 3.10 Value study type 3: Concept design (the technical solution) -- Orientation and Diagnostics phase -- Indicative agenda -- Implementation phase -- Concept design - discussion -- 3.11 Value study: Charette -- Orientation and Diagnostics phase -- The Charette value workshop phase -- Implementation phase -- 3.12 Value studies 4 and 5: value engineering -- Part 1: Tactical design of the component parts of the project -- Orientation and Diagnostics stage -- The value engineering workshop -- Implementation phase -- Part 2: Operations workshop - Execution of design, manufacture and/or construction of systems and components -- 3.13 Other study styles -- Value creation - Co-creation -- Other exemplar study styles -- 3.14 Case study -- Inception -- Appointment of the project sponsor -- Strategic briefing -- Appointment of the initial project team -- First meeting of the initial project team -- Information processing -- Collation of questionnaire data and results of the public consultation -- Workshop agenda (Table 3.5) -- Extracts from the value study report -- Briefing -- Charette -- Orientation and Diagnostics exercise.

Workshop agenda (Table 3.6) -- Extracts from the value study report -- Value engineering workshop -- Orientation and Diagnostics -- Workshop agenda (Table 3.7) -- Workshop proceedings -- Implementation -- Points to be drawn from the case study -- 3.15 Conclusion -- References -- 4 Function Analysis -- 4.1 Introduction -- 4.2 Discussion of function as a concept -- Function definition - Active verb and descriptive noun -- Function definition - Basic and secondary functions -- Function definition - Value engineering -- Function definition - Value management function hierarchy, how/why logic and needs/wants -- 4.3 Strategic function analysis - Information discovery and synthesis -- Stage 1: Orientation and Diagnostics phase - Plan strategic information discovery -- Stage 2: Value workshop phase - Strategic information discovery -- Value workshop phase - Working with the team: Issues analysis -- Value workshop phase - Working with the team: Prioritisation of issues -- Value workshop phase - Working with the team: Investigating the high priority issues -- Value workshop phase - Working with the team: Information review -- 4.4 Strategies, programmes and projects -- 4.5 Strategic function analysis - Function diagramming -- Working with the team - Strategic function diagramming -- Example case study -- 4.6 Project function analysis - Function diagramming -- Example case study -- Technical FAST -- Critical path FAST -- Project function diagramming - Kaufman's FAST diagramming -- SMART -- Summary -- 4.7 Function space diagramming -- Example case study -- 4.8 Elemental cost planning and elemental cost control -- 4.9 Element function analysis -- Stage 1: Identify the cost dominant elements -- Stage 2: List all the functions of the selected element -- Stage 3: Select functions for project context -- Stage 4: Brainstorming solutions.

Stage 5: Evaluation and development -- 4.10 Managing element clusters -- 4.11 Evaluating function -- Question 1 - Is the function required? -- Question 2 - What is the cost of meeting the functional requirements? -- Question 3 - How much value is given by the identified function? -- Question 4 - What is the implication on the project's timeline of not meeting the identified function? -- Question 5 - Who will be responsible for specifying/designing/managing the identified functional requirements? -- Question 6 - How much risk is associated with the provision of the identified function? -- 4.12 Conclusion -- References -- 5 Managing Value Study Teams -- 5.1 Introduction -- 5.2 The Value Study Leader -- The skills and selection of the VSL -- Commissioned from within value study sponsor organisation -- Externally commissioned by the value study sponsor organisation -- The VSL's role and team dynamics -- The Orientation and Diagnostics phase -- The Value Workshop phase -- The Implementation phase -- 5.3 Groups, teams and team dynamics -- Groups -- Group dynamics -- Working groups and teams -- Team development -- 5.4 Implications for team management in value studies -- Overview -- Team leadership -- Team coherence -- Team norms -- Team building, decision making and group think -- Team membership, roles, skills and team composition -- Selecting team members -- Team size -- 5.5 Value workshop management skills -- Facilitation defined -- Value workshop management styles -- Workshop Management Style 1: Workshop facilitation only -- Workshop Management Style 2: Workshop facilitation with some advanced preparation -- Workshop Management Style 3: Workshop facilitation with full preparation -- 5.6 Conclusions and lessons from practice -- References -- 6 Innovation, Implementation and Benefits Realisation -- 6.1 Introduction -- 6.2 Innovation.

Creativity - Brainstorming -- Creativity - Variations on the brainstorming theme -- Reverse brainstorming -- Gordon technique -- Synectics -- Lateral thinking -- Check-listing -- TRIZ -- Delphi -- Group decision support systems -- Judgement -- Judgement - Stage 1 -- Judgement - Stage 2 -- Judgement - Group and combine -- Judgement - Action planning and appointment of idea champion -- 6.3 Evaluation and development -- Development of ideas involving products and construction work -- Whole life cost appraisal -- Risk assessment -- Programme -- 6.4 Implementation -- 6.5 Benefits realisation -- 6.6 Conclusion -- References -- 7 Case Studies -- 7.1 Case studies -- Introduction -- 7.2 Case study 1 - Headquarters for a financial institution -- Project description including stage of development and programme -- The design of the study -- The use of function analysis -- Value study team: Stakeholder management and team dynamics -- The outcomes of the value study -- The benefits of the value study -- Lessons learnt -- 7.3 Case study 2 - Replacement of silo storage and process plant in food manufacturing facility -- Project description including stage of development and programme -- The design of the study -- The use of function analysis -- Value team: Stakeholder management and team dynamics -- The outcomes of the value study -- The Benefits of the Value Study -- Lessons learnt -- 7.4 Case study 3 - Rail infrastructure programme -- Project description including stage and programme -- The design of the study -- The use of function analysis -- Value team: Stakeholder management and team dynamics -- The outcomes of the value study programme -- The benefits of the value study -- Lessons learnt -- 7.5 Case study 4 - Magistrates Court project -- Project description including stage and programme -- The design of the study -- The use of function analysis.

Value team: Stakeholder management and team dynamics.

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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2024. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.