John Kelly, Steven Male, Drummond Graham

Value Management of Construction Projects (eBook, PDF)

• Format: PDF

Produktbeschreibung

VALUE MANAGEMENT OF CONSTRUCTION PROJECTS Second Edition Value Management is a philosophy, set of principles and structured management methodology for improving organisational decision-making and value-for-money. It is well-established in the international construction industry and has been endorsed as good practice in a range of UK government sponsored reports. The authors have addressed the practical opportunities and difficulties of Value Management by synthesising background, international developments, and benchmarking with their own extensive consultancy and action research experience in Value Management to provide a comprehensive package of theory and practice. Covering methods and practices, frameworks of value and the future of value management, this thoroughly updated second edition extends the integrated value philosophy, methodology and tool kit to describe the application of Value Management to service delivery, asset management and programmes, in addition to projects, products and processes. In particular, the new edition responds to: * A range of recent UK industry and government publications; and most notably BS EN 16271:2012 - Value management: Functional expression of the need and functional performance specification; the imminent update of BS EN 12973:2000 Value Management; BS EN 1325 Value Management - Vocabulary, Terms and Definitions; the changes to "Value for Europe" governing the training and certification of Value Management in European Union countries; the UK Government's Management of Value (MoV) initiative, and other leading reports, international guidance and relevant standards. * Changes in Value Management practice, particularly in programmes and projects. * Developments in the theory of value, principally value for money measures, whole life value option appraisal, and benefits realisation. * Initiatives in asset management covering the management of physical infrastructure, for example the suite of three standards under the generic title of BS ISO 55000: 2014 Asset Management, and its predecessor BSI PAS55 2008 Asset Management: Specification for the Optimized Management of Physical Assets. It contains a dedicated chapter of exemplar case studies which demonstrate the new areas of theory and practice, and an extensive set of tools and techniques of use in Value Management practice. Public and private construction clients and construction professionals such as cost consultants, quantity surveyors, architects, asset managers, engineers, and project managers will all find Value Management of Construction Projects essential reading. It will also be of interest to researchers and students on construction related courses - particularly those at final year undergraduate and at Masters level.

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Produktdetails

• Verlag: John Wiley & Sons
• Seitenzahl: 568
• Erscheinungstermin: 4. September 2014
• Englisch
• ISBN-13: 9781118355152
• Artikelnr.: 41495160

Autorenporträt

About the Authors JOHN KELLY was, until his recent retirement, the principal of Axoss Ltd, a company promoting and undertaking consultancy, training and research in value management, value engineering, whole life costing and whole life value. Prior to forming Axoss he was Professor of Construction Innovation in the School of the Built and Natural Environment, Glasgow Caledonian University. STEVEN MALE is Director of Steven Male Associates Limited, a specialist company dealing with consultancy assigments, research, and training in value-for-money in property and physical infrastruture asset management. He is currently working on a series of transport-related assignments for the World Bank. Prior to this Steven was Professor in Property & Infrastructure Asset Management at the University of Leeds. DRUMMOND GRAHAM is a Director at Thomson Bethune Property and Construction Consultants, Edinburgh. He has gained over forty years experience in the construction industry with government and private sector clients, covering a broad spectrum of projects and procurement routes, including PPP/PFI. His experience includes over 200 Value and Risk Management studies mostly at the early stages of projects across the building and transportation sectors.

Inhaltsangabe

Preface xi Glossary xiii Part 1 Introduction and Evolution of Value
Management 1 1 Introduction 3 1.1 The aims and objectives of the book 3 1.2
Developments in UK construction 6 1.3 Developments in value management 9
1.4 The structure of the second edition 12 References 13 2 Evolution of
Value Engineering and Value Management 15 2.1 Introduction 15 2.2
Historical background 16 2.3 Definitions, terminology and practice - Phase
1: 1947 to 1963 17 2.4 Definitions, terminology and practice - Phase 2:
1963 to 1989 19 2.5 Definitions, terminology and practice - Phase 3: 1989
to 2014 20 2.6 The Project, Portfolio or Programme of projects 23 2.7 The
1998 international benchmarking study of VM and VE 24 2.8 Standards and
procurement guidance 32 2.9 International research into value management 40
2.10 Implications for value management and value studies 42 2.11
Conclusions 46 References 47 Part 2 The Anatomy of a Value Study 51 3 Value
Study Styles 55 3.1 Introduction 55 3.2 The inception of a project 56 3.3
The specification and procurement of a value study 57 3.4 Value studies
within the project management process 59 3.5 The three generic phases of a
value study 59 3.6 Study styles, processes and deliverables 61 3.7 Project
development tracks 61 3.8 Value study type 1: Strategic briefing (project
planning and business definition) 63 3.9 Value study type 2: Project
briefing (the technical specification) 66 3.10 Value study type 3: Concept
design (the technical solution) 70 3.11 Value study: Charette 73 3.12 Value
studies 4 and 5: value engineering 75 3.13 Other study styles 79 3.14 Case
study 84 3.15 Conclusion 95 References 96 4 Function Analysis 97 4.1
Introduction 97 4.2 Discussion of function as a concept 98 4.3 Strategic
function analysis - Information discovery and synthesis 102 4.4 Strategies,
programmes and projects 109 4.5 Strategic function analysis - Function
diagramming 110 4.6 Project function analysis - Function diagramming 114
4.7 Function space diagramming 124 4.8 Elemental cost planning and
elemental cost control 128 4.9 Element function analysis 130 4.10 Managing
element clusters 133 4.11 Evaluating function 133 4.12 Conclusion 138
References 138 5 Managing Value Study Teams 139 5.1 Introduction 139 5.2
The Value Study Leader 140 5.3 Groups, teams and team dynamics 148 5.4
Implications for team management in value studies 154 5.5 Value workshop
management skills 166 5.6 Conclusions and lessons from practice 169
References 171 6 Innovation, Implementation and Benefits Realisation 173
6.1 Introduction 173 6.2 Innovation 174 6.3 Evaluation and development 186
6.4 Implementation 187 6.5 Benefits realisation 188 6.6 Conclusion 189
References 189 7 Case Studies 191 7.1 Case studies 191 7.2 Case study 1 -
Headquarters for a financial institution 193 7.3 Case study 2 - Replacement
of silo storage and process plant in food manufacturing facility 197 7.4
Case study 3 - Rail infrastructure programme 200 7.5 Case study 4 -
Magistrates Court project 205 7.6 Case study 5 - College campus library
project 209 7.7 Case study 6 - Material production facility expansion
project 215 7.8 Case study 7 - Social housing project 219 7.9 Case study 8
- Crown Court project 223 7.10 Project level: An overview of case studies 1
to 8 226 7.11 Case study 9 - Organisational change 226 7.12 The lessons
learnt from the studies 236 References 237 Part 3 Whole-Life Business Value
239 8 Value Management and Asset Management 241 8.1 Introduction 241 8.2
The importance of asset management as a discipline 243 8.3 Defining and
positioning asset management 244 8.4 The characteristics of asset
management 251 8.5 Physical assets and value for money 256 8.6 Value
management and asset management case studies 257 8.7 Conclusions 273
References 274 9 Managing Value in Portfolios, Programmes and Projects 277
9.1 introduction 277 9.2 Strategic management 278 9.3 Portfolios,
programmes and projects 284 9.4 Value-based methodologies in the P3
environment 313 9.5 A value case study: Prioritising a capital investment
programme for an asset owner-user 318 9.6 Conclusions 322 References 327 10
Option Appraisal, Risk Management and Whole Life Costing 333 10.1
Introduction 333 10.2 Objectives of TGB and option appraisal 334 10.3 Risk
management 346 10.4 Whole life cost 355 10.5 Case study: Forming a new
academic department from the amalgamation of identical departments of two
academic institutions 364 10.6 Conclusion 370 References 371 Part 4
Developments in Value Thinking 373 11 Discerning Value 375 11.1
Introduction 375 11.2 Part 1 - Background to the value debate 376 11.3 Part
2 - Social and psychological dimensions of value 384 11.4 Part 3 - Quality
debated 387 11.5 Part 4 - Principles for eliciting a value system 391 11.6
Part 5 - Value systems in a construction environment 400 11.7 Part 6 -
Practical considerations and ethical issues in the use of a value system in
a construction value study 415 11.8 Conclusion 421 References 423 12 Whole
Life Value 427 12.1 Introduction 427 12.2 A discussion of the
methodological approaches to WLV 429 12.3 Case study - illustration of a
method for developing and using the whole life value conceptual model 444
12.4 Conclusion 465 References 465 13 The Theory, Practice and Future of
VM: A Revisionist Interpretation 467 13.1 Introduction 467 13.2 Demand and
supply: the practice of VM 467 13.3 Theoretical underpinnings 475 13.4
Future directions: Theoretical and practice developments 481 13.5 VM
practice and professional territoriality 494 13.6 The future of VM: Summary
and conclusions 500 References 503 Appendix: Toolbox 507 A.1 Introduction
507 A.2 ACID test - Selecting the team 507 A.3 Action plan 507 A.4
Adjacency matrix 508 A.5 Audit - See also benefits realisation 508 A.6
Benchmarking 509 A.7 Benefits realisation 509 A.8 Brainstorming -
Creativity 509 A.9 Briefing (by investigation or by facilitation) 509 A.10
Checklist 510 A.11 Client's Value System and Client's Project Value System
matrix 512 A.12 Delphi 512 A.13 Design to Cost - BS EN 12973:2000 value
management 514 A.14 Document analysis 514 A.15 Driver analysis 515 A.16
Element function analysis 515 A.17 Evaluation and development 518 A.18
Facilities walkthrough 518 A.19 Failure mode and effects analysis - BS EN
12973:2000 value management 519 A.20 FAST (Function Analysis System
Technique) diagramming/ function logic diagram 519 A.21 Functional
performance specification - BS EN 12973:2000 value management 519 A.22
Function space analysis 519 A.23 Gap analysis 520 A.24 Goal and systems
modelling 520 A.25 Idea reduction - Judgement (see also weighting and
scoring) 520 A.26 Impact mapping 522 A.27 Interviews 522 A.28 Issues
analysis 523 A.29 Kano 524 A.30 Lever of value 525 A.31 Life-cycle costing
525 A.32 Likert 525 A.33 Presentation 526 A.34 Project Value System 526
A.35 Post-occupancy evaluation 526 A.36 Process flowcharting 527 A.37
Project execution plan (PEP) 527 A.38 Quality function deployment 528 A.39
Questionnaire 530 A.40 REDReSS 531 A.41 Risk analysis and management 531
A.42 SMART methodology 532 A.43 Space adjacency 532 A.44 Space diagramming
- User pathways 532 A.45 Space requirement user function 532 A.46
Stakeholder analysis/management/mapping 533 A.47 Strengths, opportunities,
weaknesses and threats (SWOT) 533 A.48 Site tour 533 A.49 Timeline 534 A.50
Time, cost and quality 534 A.51 User flow diagramming 535 A.52 Weighting
and scoring - (see also idea reduction) 535 A.53 Whole-life costing 536
References 539 Index 541