Value Management: Private Sector's Perception

Maznan, Nur Amani; Jaapar, Aini; Bari, Nor Azmi Ahmad; Zawawi, Mardhiah

doi:10.1016/j.sbspro.2012.08.043

Cited by 9 publications

(6 citation statements)

References 12 publications

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“…It is not merely for green projects. For government projects, value management is mandatory for public projects exceeding RM50 million which is subject to the authorisation of Value Management (VM) Circular 3/2009 by the Economic Planning Unit (EPU) (Maznan et al, 2012). Therefore, value management cost is not only for green projects.…”

Section: Discussion Of Resultsmentioning

confidence: 99%

Key Approaches of Life-Cycle Cost in Green Government Procurement (Ggp) for Green Projects

Khalil

Bohari²,

Shamsudin

et al. 2021

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Sustainability has emerged as a critical concern in any viable physical planning and development. Hence, the Malaysian government has promoted the concept of green procurement also known as Government Green Procurement (GGP) that aims to minimize environmental degradation. In GGP, life cycle perspective thinking is introduced where life-cycle cost (LCC) tools act as decision-making in controlling the initial and future value of building ownership. Despite the increasing importance of green procurement and LCC in the planning phase of green projects, the viability and implementation of LCC is still lacking. Many have stated the benefits of LCC in green procurement for green building projects, however the criteria of LCC are not clearly determined. The study aims to determine the important level of LCC components relating to the green project planning phase. Questionnaire survey was distributed to 50 respondents composed of project team members that were involved in the selected green government projects. 32 respondents returned their responses to the survey. The results revealed that the highest rank of LCC components in green procurement is energy consumption cost, greenhouse gas (GHG) savings cost, acquisition cost, energy simulation cost and utilities cost. These results would elevate the use of LCC in the green procurement adoption and viability of green projects.

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Section: Discussion Of Resultsmentioning

confidence: 99%

Key Approaches of Life-Cycle Cost in Green Government Procurement (Ggp) for Green Projects

Khalil

Bohari²,

Shamsudin

et al. 2021

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“…Applications of VM in the construction industry received major consideration in the early part of the twenty-first century, which followed an earlier trend in other industries such as automation. There are many publications related to VM in the construction industry, which also highlights the importance of its implementation in the construction sector (Maznan et al , 2012; Ismail et al , 2010; Thiry, 2002).…”

Section: Discussionmentioning

confidence: 99%

Mapping the knowledge domains of value management: a bibliometric approach

Ekanayake

Shen

Kumaraswamy

2019

ECAM

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Purpose The purpose of this paper is to review the state-of-the-art of literature of value management (VM) and to map the VM domain to provide a launch pad for further knowledge development and dissemination. Design/methodology/approach This study employed CiteSpace bibliometric analysis software to systematically, comprehensively and accurately review the VM-related literature and to map the VM knowledge domain. Findings The results reveal the current VM knowledge base, clusters, research hotspot, and the evolutionary trajectory while contributing to the development of VM knowledge by providing a dynamic platform for integrating future developments in research. Originality/value The contribution of this paper to scientific VM knowledge is, therefore, a quantitative and accurate VM knowledge map based on a bibliometric analysis of data from the VM knowledge base, domains and evolution. The findings can be generalised and used as an effective knowledge mapping tool in a specific field of study that could complement and add significant value to the often adopted more traditional literature reviews. This study further recommends that the proposed knowledge map be frequently updated by similar future studies to fill gaps that arise with changing needs, priorities and contexts, as well as to identify corresponding future demands in the VM research domain.

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“…In Malaysia, VM is perceived as a cost-cutting tool that can improve the scope and characteristics of a project. According to Maznan et al (2012), VM can extend the duration of a project, thereby yielding a very poor utilization of VM in construction projects and an underestimation of its benefits. The Singaporean construction industry reported that VM can improve communication among team members and their understanding of project objectives (Hwang et al , 2015).…”

Section: Literature Reviewmentioning

confidence: 99%

“…Literature on VM in developing countries has revealed a scarcity of studies on VM including many false perceptions held by practitioners characterized by a lack of understanding of VM, a lack of awareness, misconceptions, the belief that VM can increase the duration of the project, a misunderstanding of its benefits, the common belief that VM is a cost-reduction tool and a lack of governmental support (Kim et al , 2016; Maznan et al , 2012; Othman et al , 2021; Tanko et al , 2018). In response to these challenges, recent research has focused on the application of VM in the construction industry; to this end, it has investigated critical success factors (CSFs) of VM applications (Hwang et al , 2015; Tanko et al , 2018), case studies on potential savings and building components (Asif et al , 2005; Kelly and Male, 2003), barriers to the successful adoption of VM (Aghimien et al , 2018; Othman et al , 2021) and perceptions of VM (Maznan et al , 2012; Wandahl, 2015). Although these studies investigated how to promote VM in construction through CSFs, barriers and perceptions, the connection between perceptions and CSFs is yet to be studied.…”

Section: Introductionmentioning

confidence: 99%

Establishing the synergy between the perceptions of construction professionals and the phases of value management

Thneibat

Al-Tamimi

2021

ECAM

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PurposeThis study aims to lay the groundwork for the potential application of value management (VM) in construction projects. This paper presents a critical review on the status of VM in a developing country and highlights the role of perceptions on critical success factors (CSFs) for the phases of VM studies, as the participants in a VM study should consider CSFs tailored to the local context.Design/methodology/approachA series of interviews and a questionnaire were conducted to understand the drivers, perceptions, barriers, and CSFs of VM in the Jordanian construction industry. Although descriptive statistics were used to analyze the status of VM, a structural equation modeling (SEM) approach was adopted to highlight the interrelationships between perceptions and the CSFs of the three phases of VM (i.e. pre-workshop, workshop, and implementation).FindingsThe descriptive analysis revealed conflicting viewpoints for perceptions and drivers. Most practitioners acknowledged little awareness of VM phases, and the SEM results indicated that perceptions of VM, in terms of its capacity in improving the scope and objectives of the project, and reducing overall costs, most strongly influenced the CSFs of the implementation phase in terms of support and clear plan for implementation, and had the least influence on the pre-workshop phase. Further, the perceptions had a moderate effect on the CSFs of the workshop phase and it tended to be positive, highlighting the importance of function analysis in this phase.Originality/valueThis is the first study to reveal the status of VM in Jordan in terms of adoption, drivers, perceptions, barriers and CSFs; no prior studies have investigated how perceptions can affect the CSFs of each phase of VM and the endorsement of VM by the construction industry. The contributions of this study include linking the perceptions of construction professionals with the CSFs of VM.

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Value Management: Private Sector's Perception

Cited by 9 publications

References 12 publications

Key Approaches of Life-Cycle Cost in Green Government Procurement (Ggp) for Green Projects

Key Approaches of Life-Cycle Cost in Green Government Procurement (Ggp) for Green Projects

Mapping the knowledge domains of value management: a bibliometric approach

Establishing the synergy between the perceptions of construction professionals and the phases of value management

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