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Best Value Approach (BVA): Enhancing Value Creation in Construction Projects

Best Value Approach (BVA): Enhancing Value Creation in Construction Projects AbstractBackground: Research has revealed an inadequate understanding of the owners’ and users’ strategic objectives and a lack of methodology for translating these objectives into functional buildings. Fulfilment of owners’ and users’ objectives is fundamental in creating value through a project. Management and design processes can be decisive in achieving the desired objectives. Hence, knowledge about what creates value applied into a management framework will enable higher value creation.Objectives: Providing a framework to enhance value creation in projects by addressing: i) what means and principles should be considered in the front end of a project to secure value creation?; and ii) how can these principles be structured in a framework to maximize the project’s value creation?Methods/Approach: A literature study, two questionnaires, a focus group workshop, 8 interviews, and two case studies.Results: Fulfilment and alignment of users’ needs and owners’ strategies combined with innovative thinking is required for value creation. Challenges and obstacles for value creation are identified, and a framework is suggested.Conclusions: The framework suggests principles that contribute to value creation in each phase of a project. Implementing this methodology will help decision makers towards a better understanding of the objectives and translating them to functional solutions. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Business Systems Research Journal de Gruyter

Best Value Approach (BVA): Enhancing Value Creation in Construction Projects

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Publisher
de Gruyter
Copyright
© 2017 Amin Haddadi et al., published by De Gruyter Open
ISSN
1847-9375
eISSN
1847-9375
DOI
10.1515/bsrj-2017-0018
Publisher site
See Article on Publisher Site

Abstract

AbstractBackground: Research has revealed an inadequate understanding of the owners’ and users’ strategic objectives and a lack of methodology for translating these objectives into functional buildings. Fulfilment of owners’ and users’ objectives is fundamental in creating value through a project. Management and design processes can be decisive in achieving the desired objectives. Hence, knowledge about what creates value applied into a management framework will enable higher value creation.Objectives: Providing a framework to enhance value creation in projects by addressing: i) what means and principles should be considered in the front end of a project to secure value creation?; and ii) how can these principles be structured in a framework to maximize the project’s value creation?Methods/Approach: A literature study, two questionnaires, a focus group workshop, 8 interviews, and two case studies.Results: Fulfilment and alignment of users’ needs and owners’ strategies combined with innovative thinking is required for value creation. Challenges and obstacles for value creation are identified, and a framework is suggested.Conclusions: The framework suggests principles that contribute to value creation in each phase of a project. Implementing this methodology will help decision makers towards a better understanding of the objectives and translating them to functional solutions.

Journal

Business Systems Research Journalde Gruyter

Published: Sep 1, 2017

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