Abstract
For clients, owners and financiers of construction projects, construction process signify a huge
capital investment which translate into substantial fixed costs for their organizations. Value
Management (VM) is a business strategy tool to ascertain whether construction of a facility
will provide best function at the lowest possible cost. This study examines the contribution of
value management to construction projects with a view to assessing challenges and measures
to improve adoption and application of the discipline. Primary data were collected through
well-structured questionnaires administered on construction professionals within the study area
and Mean Item Score was used for data analysis. The major contributions of VM to the South
African construction industry include optimize value for money, creates a clearer focus on the
project objectives and works towards arriving at a more effective design. However, poor
communication, lack of interaction and unwillingness of clients to pay for VM service, were
the challenges affecting the adoption of VM. In order to improve construction project
performance using the process of value management, orientation meetings should be duly
organised, team structure should be finalised and team members must be appropriately selected
for construction projects. Built environment professionals - including construction and project
managers, should familiarize themselves with VM and strive for its full adoption and
implementation for construction projects in order to achieve best value at the lowest complete
life cycle project cost for construction clients.