Achieving Value For Money In Capital Build Projects

This book is the first to bring together academic and practitioner views of Value for Money (VFM). VFM has been used to assess whether or not an organisation has obtained the maximum benefit within the resources available to it. A concept used by the public sector to assess the benefits of major built environment projects, it has become a major tenet of public private partnerships, capital project infrastructure and civil engineering megaprojects. This book presents and discusses the various debates surrounding the concept of Value for Money. It provides an international perspective on VFM by drawing upon the existing and fast developing body of principles and practices for Capital Build Projects. Readers will gain a level of understanding of the issues involved, the challenges, opportunities and the support mechanisms and protocols required for implementation of VFM in capital building development. Ultimately, the book presents a protocol that has been developed to track and monitor the VFM of a capital project from day 1, an Equilibrium Testing Mechanism (ETM) developed by the authors. This testing mechanism allows each of the parties to a project to monitor their VFM position at any given stage of a project from the beginning to the end of the build stage and beyond as necessary. This book is both a useful reference for researchers and a practical guide for the construction and engineering industry.

This book is a comprehensive and practical guide to project marketing – a crucial aspect of businesses worldwide. It encompasses a variety of key infrastructure projects such as roads, airports, ports, power, irrigation, commercial, and industrial buildings. The volume: • Provides key definitions and discusses concepts such as segmentation, target marketing, positioning in projects, and organizational buyer behaviour. • Draws and adapts from extant marketing theory and provides real-life case studies to demonstrate application of concepts. • Focuses on project marketing logic, marketing mix, negotiation techniques, and strategies to aid contracting/subcontracting firms to realize better pricing and project profitability. An essential handbook for professional marketers and researchers, this book will be indispensable for B-Schools, project managers, entrepreneurs, infrastructure corporations, and start-ups. It will serve as a key text to foster hassle-free relationships between different business actors and reduce roadblocks such as time and cost escalation, litigation, and the like.

The concept of value in projects is a key issue for everyone involved in the construction industry. Building in Value brings together many experts in the field to outline the wide range of tools, techniques and procedures that can and should be used to make the building procurement phase as efficient as possible. The authors go on to discuss how to ensure that future problems in the design and construction of the buildings are anticipated at the start and to minimise the liklihood of future hiccups. Integrating strategic, financial and construction management techniques, this book provides an essential guide for construction professionals.

Value Management is a philosophy, set of principles and a structured management methodology for improving organisational decision-making and value-for-money. The second edition builds on the success of the first edition by extending the integrated value philosophy, methodology and tool kit to describe the application of Value Management to the areas of service delivery, asset management, and, Programmes, in addition to Projects, products and processes. Value Management is a well-established methodology in the international construction industry, and in the UK has been endorsed as good practice in a range of government sponsored reports. In this book the authors have addressed the practical opportunities and difficulties of Value Management by synthesising the background, international developments, benchmarking and their own extensive consultancy and action research experience in Value Management to provide a comprehensive package of theory and practice. The second edition retains the structure of the first edition, covering methods and practices, frameworks of value and the future of value management. It has been thoroughly updated, and a number of new chapters added to encapsulate further extensions to current theory and practice. 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, together with other leading reports, international guidance and standards on Value Management. Research in Value Management undertaken since publication of the first edition. 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 initiatives covering the management of physical infrastructure, for example the recent launch of a 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" The second edition contains a dedicated chapter of exemplar case studies drawn from the authors' experience, selected to demonstrate the new areas of theory and practice. An Appendix includes an extensive set of tools and techniques of use in Value Management practice. Construction clients, including those in both the public and private sectors, and professionals such as construction cost consultants, quantity surveyors, architects, asset managers, construction engineers, and construction managers will all find Value Management of Construction Projects to be essential reading. It will also be of interest to researchers and students on construction related courses in Higher Education -- particularly those at final year undergraduate and at Masters level.

This topical and timely book presents and innovative approach to dealing with the complexities of cost planning in PFI. PFI/PPP projects have a significantly different costing environment from conventionally procured projects, requiring cost analysts to use their expertise and innovative thinking to develop whole-life cost solutions that deliver value for money to the client, thus improving public building assets performance. Abdelhalim Boussabaine provides a thorough grounding in the theory of PFI, from its early evolution through to examples of current projects. In particular, the rationale for private financing of public services, arguments for and against PFI and 'value for money' mechanisms are discussed. The book presents an innovative framework for whole-life value and calls for changes in the way whole life cycle value is perceived, created and exchanged. Cost Planning of PFI and PPP Building Projects provides the reader with existing knowledge as well as present innovative thinking for future development and management of PFI/PPP cost planning processes. Given the importance and novelty of this book, academics, professionals, undergraduate and postgraduate students will find this book valuable.

Achieving value in construction is now emerging as the mainchallenge facing the construction team if they are to offer thebest service for the client. No longer is the aim simply to keepcosts under control. This book from the RICS Foundation analyses how to provide bestvalue by the effective application of leading edge techniques andprocesses throughout the entire life cycle of buildings, from thebusiness case which underpins their initiation to the achievementof a satisfactory project out-turn. This book is a successor to Quantity Surveying Techniques: NewDirections, edited by Peter Brandon and published on behalf of theRoyal Institution of Chartered Surveyors by Blackwell. It will beof interest not only to surveyors and construction managers butalso to final year undergraduates of construction degrees. '[This book] will make a major contribution to theadvancement of the methods by which construction professionalsprovide a service to their clients' - Professor PeterBrandon

The past fifty years have seen rapid development of public and governmental awareness of environmental issues. Engineers and scientists have made tangible contributions to environmental protection. However, further theoretical and practical developments are necessary to address mankinds growing demands on the environment. Construction for a Sustai

The concept of value in projects is a key issue for everyone involved in the construction industry. Building in Value brings together many experts in the field to outline the wide range of tools, techniques and procedures that can and should be used to make the building procurement phase as efficient as possible. The authors go on to discuss how to ensure that future problems in the design and construction of the buildings are anticipated at the start and to minimise the liklihood of future hiccups. Integrating strategic, financial and construction management techniques, this book provides an essential guide for construction professionals. *Offers a practical approach to cost-effectiveness.*Provides an introduction to a set of widely applicable decision making tools.*Discusses startegic, financial and construction management techniques.