Value management in Malaysia: a comparison with the UK practices. (8th October 2010)

• Record Type: Journal Article
• Authors: Zainul-Abidin, Nazirah; Jaapar, Aini
• Is Part Of: International journal of project organisation and management. Volume 2:Number 4(2010)
• Page Start: 404
• Page End: 415
• Publication Date: 2010-10-08
• Subjects: value management -- value engineering -- construction industry -- Malaysia -- UK -- United Kingdom -- USA -- United States -- maturity levels -- comparisons -- project organisation -- project management; Project management -- Periodicals; Management -- Periodicals; 658.40405
• Languages: English
• ISSNs: 1740-2891

Abstract

Value management (VM) is a strategic and innovative approach that is organised in a systematic way to develop and compare alternatives with the aim to identify the best course of action to achieve the greatest value. The techniques of VM, which was originated from the USA in the mid-1940s have passed the test of time and currently being applied worldwide across various industries. VM in the UK has reached its maturity level and has been widely accepted within the construction industry, while in Malaysia, this technique is still unpopular. This paper presents an investigative study focussing on the VM practices, methodology and techniques used currently in the UK and Malaysia. Understanding the similarities, differences and experiences between these two countries shall provide insights into why the application of VM has been widely accepted in the UK and what the Malaysians can do to emulate from the UK experiences for greater VM implementation in the near future.