Value Management of Construction Projects

Informationen zum Autor About the Authors JOHN KELLY was, until his recent retirement, the principal of Axoss Ltd, a company promoting and undertaking consultancy, training and research in value management, value engineering, whole life costing and whole life value. Prior to forming Axoss he was Professor of Construction Innovation in the School of the Built and Natural Environment, Glasgow Caledonian University. STEVEN MALE is Director of Steven Male Associates Limited, a specialist company dealing with consultancy assigments, research, and training in value-for-money in property and physical infrastruture asset management. He is currently working on a series of transport-related assignments for the World Bank. Prior to this Steven was Professor in Property & Infrastructure Asset Management at the University of Leeds. DRUMMOND GRAHAM is a Director at Thomson Bethune Property and Construction Consultants, Edinburgh. He has gained over forty years experience in the construction industry with government and private sector clients, covering a broad spectrum of projects and procurement routes, including PPP/PFI. His experience includes over 200 Value and Risk Management studies mostly at the early stages of projects across the building and transportation sectors. Klappentext Value Management is a philosophy, set of principles and a structured management methodology for improving organisational decision-making and value-for-money. The second edition builds on the success of the first edition by extending the integrated value philosophy, methodology and tool kit to describe the application of Value Management to the areas of service delivery, asset management, and, Programmes, in addition to Projects, products and processes. Value Management is a well-established methodology in the international construction industry, and in the UK has been endorsed as good practice in a range of government sponsored reports.In this book the authors have addressed the practical opportunities and difficulties of Value Management by synthesising the background, international developments, benchmarking and their own extensive consultancy and action research experience in Value Management to provide a comprehensive package of theory and practice. The second edition retains the structure of the first edition, covering methods and practices, frameworks of value and the future of value management. It has been thoroughly updated, and a number of new chapters added to encapsulate further extensions to current theory and practice. In particular, the new edition responds to:* A range of recent UK industry and government publications; and most notably BS EN 16271:2012 - Value management: Functional expression of the need and functional performance specification; the imminent update of BS EN 12973:2000 Value Management; BS EN 1325 Value Management - Vocabulary, Terms and definitions; the changes to "Value for Europe" governing the training and certification of Value Management in European Union countries; the UK Government's Management of Value (MoV) initiative, together with other leading reports, international guidance and standards on Value Management.* Research in Value Management undertaken since publication of the first edition.* Changes in Value Management practice particularly in Programmes and Projects.* Developments in the theory of value, principally value for money measures, whole life value option appraisal, and benefits realisation.* Initiatives in asset management initiatives covering the management of physical infrastructure, for example the recent launch of a suite of three standards under the generic title of BS ISO 55000: 2014 Asset Management, and its predecessor BSI PAS55 2008 "Asset Management: Specification For The Optimized Management Of Physical Assets"The second edition contains a dedicated chapter of exemplar case studies drawn from the authors' experience, selecte...

List of contents

Preface xi
 
Glossary xiii
 
Part 1 Introduction and Evolution of Value Management 1
 
1 Introduction 3
 
1.1 The aims and objectives of the book 3
 
1.2 Developments in UK construction 6
 
1.3 Developments in value management 9
 
1.4 The structure of the second edition 12
 
References 13
 
2 Evolution of Value Engineering and Value Management 15
 
2.1 Introduction 15
 
2.2 Historical background 16
 
2.3 Definitions, terminology and practice - Phase 1: 1947 to 1963 17
 
2.4 Definitions, terminology and practice - Phase 2: 1963 to 1989 19
 
2.5 Definitions, terminology and practice - Phase 3: 1989 to 2014 20
 
2.6 The Project, Portfolio or Programme of projects 23
 
2.7 The 1998 international benchmarking study of VM and VE 24
 
2.8 Standards and procurement guidance 32
 
2.9 International research into value management 40
 
2.10 Implications for value management and value studies 42
 
2.11 Conclusions 46
 
References 47
 
Part 2 The Anatomy of a Value Study 51
 
3 Value Study Styles 55
 
3.1 Introduction 55
 
3.2 The inception of a project 56
 
3.3 The specification and procurement of a value study 57
 
3.4 Value studies within the project management process 59
 
3.5 The three generic phases of a value study 59
 
3.6 Study styles, processes and deliverables 61
 
3.7 Project development tracks 61
 
3.8 Value study type 1: Strategic briefing (project planning and business definition) 63
 
3.9 Value study type 2: Project briefing (the technical specification) 66
 
3.10 Value study type 3: Concept design (the technical solution) 70
 
3.11 Value study: Charette 73
 
3.12 Value studies 4 and 5: value engineering 75
 
3.13 Other study styles 79
 
3.14 Case study 84
 
3.15 Conclusion 95
 
References 96
 
4 Function Analysis 97
 
4.1 Introduction 97
 
4.2 Discussion of function as a concept 98
 
4.3 Strategic function analysis - Information discovery and synthesis 102
 
4.4 Strategies, programmes and projects 109
 
4.5 Strategic function analysis - Function diagramming 110
 
4.6 Project function analysis - Function diagramming 114
 
4.7 Function space diagramming 124
 
4.8 Elemental cost planning and elemental cost control 128
 
4.9 Element function analysis 130
 
4.10 Managing element clusters 133
 
4.11 Evaluating function 133
 
4.12 Conclusion 138
 
References 138
 
5 Managing Value Study Teams 139
 
5.1 Introduction 139
 
5.2 The Value Study Leader 140
 
5.3 Groups, teams and team dynamics 148
 
5.4 Implications for team management in value studies 154
 
5.5 Value workshop management skills 166
 
5.6 Conclusions and lessons from practice 169
 
References 171
 
6 Innovation, Implementation and Benefits Realisation 173
 
6.1 Introduction 173
 
6.2 Innovation 174
 
6.3 Evaluation and development 186
 
6.4 Implementation 187
 
6.5 Benefits realisation 188
 
6.6 Conclusion 189
 
References 189
 
7 Case Studies 191
 
7.1 Case studies 191
 
7.2 Case study 1 - Headquarters for a financial institution 193
 
7.3 Case study 2 - Replacement of silo storage and process plant in food manufacturing facility 197
 
7.4 Case study 3 - Rail infrastructure programme 200
 
7.5 Case study 4 - Magistrates Court project 205
 
7.6 Case

Product details

• Authors: Drummond Graham, Graham Drummond, J Kelly, Joh Kelly, John Kelly, John (Glasgow Caledonian University) Male Kelly, John Male Kelly, Steve Male, Steven Male
• Publisher: Wiley, John and Sons Ltd
• Languages: English
• Product format: Paperback / Softback
• Released: 31.10.2014
• EAN: 9781118351239
• ISBN: 978-1-118-35123-9
• No. of pages: 576
• Subjects: Natural sciences, medicine, IT, technology > Technology > Structural and environmental engineering; Social sciences, law, business > Business > Management; Baubetrieb, Construction Management, Bauingenieur- u. Bauwesen, Civil Engineering & Construction, Massenermittlung u. Bauökonomie, Quantity Surveying & Construction Economics