Measuring the performance of value management studies in construction

Pao Yue-kong Library Electronic Theses Database

Measuring the performance of value management studies in construction

 

Author: Lin, Gongbo
Title: Measuring the performance of value management studies in construction
Degree: Ph.D.
Year: 2009
Subject: Hong Kong Polytechnic University -- Dissertations.
Construction industry -- Management.
Value analysis (Cost control)
Department: Dept. of Building and Real Estate
Pages: xiv, 245 leaves : ill. ; 30 cm.
Language: English
InnoPac Record: http://library.polyu.edu.hk/record=b2321422
URI: http://theses.lib.polyu.edu.hk/handle/200/4036
Abstract: Value management (VM) is widely regarded as a useful method in addressing challenges such as budget constraints and project complexity in the construction industry. It has been reported to be useful in reducing costs while maintaining or even improving the performance of a project at the same time. However, many potential users in the construction industry are reluctant to use VM because of a lack of tools to assess the effectiveness of VM studies. It appears that performance measurement of VM studies is rarely conducted due to the lack of rigorous models. Therefore, organizations have no clear way of knowing whether adequate returns have been achieved on their investment in VM studies. Without a reasonable assessment of the effectiveness of VM studies in achieving clients' target, it is also difficult to know what changes can be made to obtain more benefits. The overall aim of this research is to develop a framework which can measure the performance of VM studies effectively, rigorously, and continuously throughout the VM process. The objectives of this research are (1) to investigate the strengths and weaknesses of the existing performance measurement models used in measuring the performance of VM studies in construction; (2) to develop, validate, and refine a performance measurement framework that is capable of measuring the processes and outcomes of VM studies in construction on a timely basis; and (3) to implement the framework in a computer-aided toolkit that will be integrated with collaboration tools for VM studies, so that the measurement and improvement can be carried out easily and timely. Research methods including a critical review, interviews, questionnaire surveys, theoretical analysis, case studies and focus group meeting are used in this research to achieve the objectives. A comprehensive literature review has been conducted on both VM and performance measurement. The benefits and critiques of VM in construction are summarized. The strengths and weaknesses of the existing measurement frameworks are critically reviewed in the context of VM studies in construction, thereby accomplishing the first research objective. Thirteen factors which have a major impact on the performance of VM studies in construction are identified from the literature review. Based on these factors, a theoretical structure and a theoretical framework for the measurement framework are established. The development of a performance measurement framework based on the literature review and the theoretical framework is introduced in detail. A preliminary framework is developed to explain how the desired features could be achieved in measurement. The identification of the key performance indicators (KPIs) by a questionnaire survey is then presented. A detailed framework which consists of the measurement processes, data providers, weightings of KPIs and definitions of the scoring is then developed. In order to validate and refine the developed framework, case studies, focus group meetings and interviews have been conducted. A refined framework is then presented and the performance indexes are built. A computer-aided toolkit has been developed to take advantage of the information technology (IT) in the measurement processes. The benefits of IT supported performance measurement in VM studies in construction are discussed. A detailed introduction to a web-based collaboration system entitled "Interactive Value Management System" (TVMS), which was developed by the colleagues of the researcher, is presented and the integration of the performance measurement framework into this system is then explained. A trial implementation of the system to measure the performance of VM studies is conducted to validate the effectiveness and efficiency of this computer-aided toolkit.

Files in this item

Files Size Format
b23214223.pdf 3.320Mb PDF
Copyright Undertaking
As a bona fide Library user, I declare that:
  1. I will abide by the rules and legal ordinances governing copyright regarding the use of the Database.
  2. I will use the Database for the purpose of my research or private study only and not for circulation or further reproduction or any other purpose.
  3. I agree to indemnify and hold the University harmless from and against any loss, damage, cost, liability or expenses arising from copyright infringement or unauthorized usage.
By downloading any item(s) listed above, you acknowledge that you have read and understood the copyright undertaking as stated above, and agree to be bound by all of its terms.

     

Quick Search

Browse

More Information