TITLE

AN OVERVIEW ON VALUE MANAGEMENT AND ITS CURRENT PRACTICES IN THE CONSTRUCTION INDUSTRY: MALAYSIA AS A CASE STUDY

AUTHOR(S)
Omran, Abdelnaser; Pakir, Abdul Hamid Kadir
PUB. DATE
November 2011
SOURCE
International Conference on Economics & Administration Proceedin;Nov2011, p41
SOURCE TYPE
Conference Proceeding
DOC. TYPE
Article
ABSTRACT
The primary reason for any client implement a Value Management (VM) study is to achieve value improvement and financial savings while maintaining the required levels of quality and performance. However, value management is seen as capable of delivering significant savings in cost and improvements in functionality. But even by knowing its main purposes and characteristics, VM use not more widespread amongst practitioners in Malaysia. Thus, this paper attempts to provide a short an overview on Value Management practices in the construction industry by practitioners in Malaysia. It also attempts to identify the factors that hinder the application of Value Management in construction industry. As results, "lack of knowledge about Value Management" was ranked as the most important factors that hinder the application of Value Management in construction industry in Malaysia.
ACCESSION #
70695015

 

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