Value Management as a Construction Management Tool
Value management can be described as a management tool that can be adopted for overall project management of construction projects. Other construction management techniques such as risk management, lean construction and management, total quality management, knowledge management, total asset management, and safety management can be incorporated into a value management study instead of setting up various management teams to manage these aspects for the same project. This chapter explains the application of value management for other construction management methods, techniques, and practices in the construction industry. It highlights various areas of the construction management techniques and how their practice can be incorporated into value management study. However, it should be noted that for some specific reasons, the highlighted and discussed management techniques will be more effective and efficient for a better performance of construction projects when they are integrated with value management study for the same project.
KeywordsConstruction project Knowledge management Lean management Project management Risk management Total quality management Value management
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