Status of Value Management Implementation in Small and Medium Construction Projects in Malaysia

Abstract

Value management (VM) should be implemented in construction projects to achieve the best value-for-money for clients, irrespective of project size. However, its regular implementation in Malaysia appears mostly in large projects driven by legislation. Negligence was therefore aroused towards implementing VM for smaller projects and the specific status remains ambiguous to date. This paper aims to investigate the current status of VM implementation in small and medium construction projects in Malaysia with a view to exploring the challenges and measures in improving the status. A total of 162 construction organizations directly involved in small and medium projects were surveyed using a structured questionnaire. The findings revealed that the execution of VM by organizations for smaller construction projects is relatively low and significantly subject to project size regardless of project type. Practitioners’ levels of frequency and awareness towards implementing VM in small and medium construction projects remain low and unsatisfactory. Also, VM implementation in smaller projects was found significantly correlated with the experience of organizations and practitioners. Challenges and measures in ameliorating the observed status were explored. The findings contribute to a clear understanding of VM in small and medium construction projects in Malaysia and call for more attention from both academia and industry on VM for smaller sizes of projects.