Value management : recent developments and way forward

Abstract

Purpose – The purpose of this paper is to review the development of value management (VM) over the last few decades and propose ways for future development. Design/methodology/approach – A qualitative research methodology was adopted which involved a comprehensive review of relevant literature leading to a better understanding of the history and development of VM. A way forward is suggested for the future development of VM. Findings – The research revealed that sustainable development is an area which has great potential for the application of a VM methodology in the construction industry in order to ensure sustainable design and development is leveraged during the life span of construction projects. Originality/value – The research work described in this paper encourages researchers and practitioners to integrate VM and sustainable development. It enables the VM community to have a better understanding of applying VM techniques to address “green building” issues and the potential of applying VM to promote sustainability in buildings.