Asset 4 Value Management

Value Management

KLM Partnership

Value management is the search for, and elimination of, unnecessary cost.

That is, cost that contributes to neither the function, nor the quality nor the speed of construction of the finished project.

Value Management techniques were first developed in the USA and the various techniques adopted were naturally a response to their own procurement environment.

In the UK a different approach is normally recommended which recognises, in particular, the contribution of the Quantity Surveyor within the Procurement process.

In our view the most effective way to add value to a project is to undertake a review during the early design stages when changes are most easily made. This review takes the form of a critical examination of the proposed design solution by the clients Project Owner and the designers, generally using brainstorming techniques.

The exercise is undertaken under the direction of our Value Manager and focuses primarily on the required function of the project by analysing the proposed design solution against the original functional design brief agreed with the client at the outset of the work.

Radical design alternatives can often be identified by this process.

A key element of this process in the involvement of the end user in the discussions. From past projects we are well acquainted with the involvement of Heads of Department and other Client representatives in the design process and firmly believe this is a major element in achieving complete Client satisfaction.

Our approach provides a cost effective solution to what can be a potentially expensive exercise.