Value Management (VM) has been used since 1947 in America by the clients and the project delivery teams to obtain optimum value for each dollar spent. Apart from the cost savings in the range of 10-15 % for most projects, VM can also support the project team to create innovative ideas via the systematic job plan (i.e., information, analysis, creative, evaluation, and development phases). Hence, we should not only acquire technical knowledge but must also develop various management skills for achieving the primary goals. The international VM Conference and the interactive Workshop will present the systematic logical VM, its dynamic team decision-making process, the concept of VM in various cities, and the approach by successful VM facilitators in international VM applications.
In fact, a project may not be feasibly created if there is insufficient support by stakeholders or insufficient justification of the objectives of the project. A project may not survive if there is budget overrun due to increased design requirements, unexpected cost escalations, lowering of market demands, contractual conflicts, etc., during its design or implementation. Value methodology can be applied to help project creation and survival. International VM experts & local VM experts have been invited to share their various valuable VM experiences in project creation and survival internationally and locally.
In response to The Belt and Road initiatives, construction professionals are expected to manage construction projects in many different countries /districts. It is inevitable for them to encounter various problems at every stage of the development, design and construction processes. Traditional problem-solving and management processes generally fail to enhance the quality of and create value to construction projects, while value management (VM) emphasizes a systematic team decision making process among multi-disciplinary members for effectively and innovatively resolving difficulties, particularly at the strategic level.
VM has been formally adopted in different countries along the Belt and Road (e.g., Hong Kong, Malaysia, Singapore, Iran and Netherland). To achieve the aim of Promoting and Extending Value Management Professional Services in such dynamic environment in the Belt and Road Regions, the following project objectives have been established:
It is envisaged that the VM competencies of the HK VM experts and construction professionals will greatly be improved through the proposed project so as to outperform their counterparts in other countries