Value Management as a Discipline

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Abstract

The idea behind the introduction, practice, and adoption of value management is for it to serve as a method of analysing, enhancing, and improving acceptable standards of controlling and managing elements and components of products or projects from inception to completion, commissioning, use, re-use, and eventual demolition. In explaining value management as a discipline, this chapter describes various procedures necessary in the conduct of the discipline, different means of planning and organising it, the concept of function analysis, issues relating to whole-life costing, distinguishing between quality and function of elements, the principle of value, cost, worth, and price as well as the constituents and components of unnecessary cost.

Keywords

Function analysis Team composition Unnecessary cost Value Value management Whole-life costing 
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Copyright information

© Springer International Publishing AG 2017

Authors and Affiliations

  1. 1.Faculty of Engineering and the Built EnvironmentUniversity of JohannesburgJohannesburgSouth Africa

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