Application of Value Management to Selected Construction Projects in Nigeria

Due to the benefits of value management (VM) in capital projects in some developed and developing countries of the world, there has been call by built environment professionals in Nigeria for embracement of the practice by project stakeholders. VM has been introduced in the country but there are challenges with its implementation and application, this study therefore examine the influence of VM practice on 4 selected building projects. Case-study approach was employed in which group of professionals carried out hypothetical VM analysis of selected projects using 40-hour workshop plan. Prior to the examination of the projects, facilitators and members of the team were trained on the history, basis and application of VM to construction works and a typical project was examined in the course of the training. On a general note, the study revealed that VM has numerous benefits if fully implemented for construction projects thereby enhancing value for money for project clients, owners or sponsors. The two notable benefits are reduction of cost while maintaining function as well as identification and removal of unnecessary materials, process and workmen time. Beyond the introduction of VM into curriculum of higher institutions and presentation at various workshops and seminars, a major issue of implementation should be addressed by stakeholders in the construction industry. Keywords: Construction projects; Cost; Nigeria; Project function; Value management