The Impact of Value Management Implementation in Malaysia

Abstract

<p class="MsoNormal" style="margin: 0cm 0cm 4pt; line-height: 12pt; mso-line-height-rule: exactly;"><span style="font-size: 10pt; mso-bidi-font-size: 11.0pt;" lang="EN-US"><span style="font-family: Times New Roman;">This paper reports on the findings of a study on value management (VM) applications in the Malaysian construction industry.<span style="mso-spacerun: yes;"> </span>A questionnaire survey of 7 pages was sent to 5581 numbers of registered developers, architects, engineers, quantity surveyors and project managers to seek their experience on VM applications. A return rate of 7.5 per cent or 411 numbers of respondents were received.<span style="mso-spacerun: yes;"> </span></span></span></p><p class="MsoNormal" style="margin: 0cm 0cm 4pt; line-height: 12pt; mso-line-height-rule: exactly;"><span style="font-size: 10pt; mso-bidi-font-size: 11.0pt;" lang="EN-US"><span style="font-family: Times New Roman;">During the process of investigation on the evolution in Malaysia, it was discovered that the global evolution of VM did influence the Malaysian construction industry as majority of the public universities had ensured that VM methodology knowledge has been integrated into their syllabuses, thus the future construction industry practitioner has had the basic knowledge on VM methodology provided which should have equipped them for producing a better functionally, and better value for money construction projects.</span></span></p

Identifying the Level of Awareness on Value Management Practice amongst Construction Developers

“…[8] in the result also confirmed that the majority (51%) of the respondents did not practice the VM methodology in their working environment and a large number of organisations had no experience in any workshop in the application of VM study in the construction projects procured. She was also found that more than half of the projects (57%) used in-house facilitators to facilitate the VM workshops rather than hiring an independent VM facilitator, it was also found that 63% of respondents did possess a good level of understanding towards the VM concept by the quality of feedback gathered from the questionnaire.…”

Barriers to Applying Value Management in the Vietnamese Construction Industry

“…Jaapar et al (2009) investigated the impact of VM implementation in Malaysia and confirmed that the lack of VM knowledge and practice, a resistance to change by the involved parties, and the conflicting objectives of the project among parties were the main problems mentioned during the VM workshop. Latief and Kurniawan (2009) studied the implementation of VM in the infrastructure services of Indonesia's public works department.…”

“…All hindrance factors were rated on a five-point Likert scale (1= Not a hindrance to 5 = Extreme hindrance), which has been widely used in many previous VM studies (Lai, 2006;AI-Yami, 2008;Jaapar et al, 2009;Li and Ma, 2012;Phyo and Cho, 2014). The third section of the questionnaire gathers background/demographic information of respondents.…”

“…However, concepts and applications of VM do not seem to be well embraced in the construction sector of the majority of developing countries. For example, in Malaysia and China, VM is still in its infancy and has not been well-accepted (Jaapar et al, 2009;Li and Ma, 2012). Additionally, VM is rarely applied in the Southeast Asian construction industry (Cheah and Ting, 2005) and is also less widely practiced in South Africa (Bowen et al, 2010).…”

An Automated Negotiation-based Framework via Multi-Agent System for the Construction Domain

“…The application of VM in decision making has been reported by many researchers [1,21,22]. One of the techniques that is relevant to VM is weighting and scoring in which a decision needs to be made in selecting an option from a number of competing options, and the best option is not immediately identifiable [1,23,24].…”