Exploring the Critical Success Factors of Value Management Implementation for Sustainable Residential Building Project: A Stationary Analysis Approach

Abstract

During the past two decades, value management (VM), has developed into a recognized construction practice. However, the methods and activities associated with VM adopt informal approaches in developing countries. This study aims to explore the critical success factors (CSFs) of VM implementation. Consequently, VM CSFs were investigated from the previous literature and further categorized over a semi-structured interview. The importance of these CSFs investigated by 335 structured questionnaires completed by residential building professionals. Subsequently, the exploratory study using the exploratory Pearson correlation of the VM CSFs was employed to validate the categorization resulting from a semi-structured interview and pilot study phases. Based on the validation results, the VM CSFs may be divided into four dimensions: culture and environment, workshop dynamics, stakeholder and knowledge, and standardization. Through important relative index (RII) analysis, the essential CSFs creates a VM team from a variety of disciplines, VM knowledge, experience of participants, and professional experience of the different participants’ diverse disciplines. In addition, this research used a stationary analytic strategy to evaluate the degree to which VM critical success factors (CSFs) have been incorporated into residential construction projects in Egypt. The results revealed that “establishing the roles and purposes of various professions” was the stationary success factor for adopting VM. This research establishes a road map for successful VM implementation via VM CSFs in Egypt and other underdeveloped nations. Stakeholders in the residential construction sector would benefit from this study by learning more about VM CSFs and how they may be used to increase the value of their projects.

Addressing of Value Management Implementation Barriers within the Indian Construction Industry: A PLS-SEM Approach

“…Numerous standard factorability parameters for a correlation such as Kaiser-Meyer-Olkin (KMO) were identified. The KMO is a homogeneity factor measurement and is widely applied to verify the minimum fractional correlations among variables [85]. The index of KMO varies between 0 and 1 for an efficacious factor analysis having the lowest value of 0.6 [64].…”