The practice of value management in the Malaysian construction industry / Professor Dr. Johan Victor Torrance Abdullah and Dr. Aini Jaapar

This study focuses on value management (VM) and its practices in the construction industry in Malaysia. VM, which is defined as 'a multi-disciplinary, team orientated, structured, analytical process and systematic analysis of function which seeks best value, via the design and construction process to meet the client's perceived needs', is a relatively new field of study in Malaysia. As such, this study investigates the current developments and practices of VM applications in the construction industry in Malaysia. It then determines whether VM adheres to the procedures and protocols associated with 'value methodology'. As the knowledge and application of VM in Malaysia is not as sophisticated as in many other countries, the interviews has been deemed appropriate in answering the questions posed. Furthermore, it has utilised the qualitative approaches to enhanced data collection and analysis. This study has shown that the Malaysian construction industry needs a better approach in project delivery. The data obtained and analysed show that the construction industry should adopt VM methodology in order to enhance efficiency and to deliver maximum value to its clients. It has also demonstrated the need for the construction industry to be more proactive in its stance and for better and innovative solutions to be integrated into the construction processes.