Value Management in Scotland

Abstract

Value management (VM) practice has come to stay in the construction industry. It is no more alien that the construction industry is making use of this practice and other sectors of the economy connected to a country's policy. The basic idea is to adopt the system into every facet of the economy to have a better output at the end of a fiscal year in the long run. The construction industry in Scotland is not left behind as this study focuses on the adoption of VM practice in the country in terms of value planning, methodology, value engineering, review and analysis. Best value and VM focus on the delivery of values attached to VM projects and brings into notice how VM could serve as a risk management tool. This study also explains the role of teams in VM, VM actions, rewards and challenges experienced along with a summary of the whole system in Scotland.

Citation

Oke, A.E., Stephen, S.S. and Aigbavboa, C.O. (2022), "Value Management in Scotland", Value Management Implementation in Construction, Emerald Publishing Limited, Leeds, pp. 95-107. https://doi.org/10.1108/978-1-80262-407-620221007