Value Creation Assessment Tool for Green Buildings: Development and Implementation

Abstract

Green buildings are predestined for the sustainability of arid regions. Presently, professionals working on building construction projects have no assessment tool that integrates value creation and associated risks in the development phase to enhance the value created by green buildings. The present study developed and tested a value creation assessment tool to evaluate the total added value and associated risks that can impact the created value by green building design. The tool consisting of 51 performance value drivers and 35 risk factors was tested on three different buildings in Saudi Arabia. Using a questionnaire survey, each of these projects was scored by its value engineering team and weighted mean scores (Wms) as percentages were calculated. The study revealed that the environmental driver was given less importance in the design process with Wms of less than 60% for all three types of buildings, while the functional driver was given higher importance with Wms of 80% or more. All the buildings showed moderate financial risks ranging between 40 and 50% and a higher potential of management risks with scores around 60% or higher. A wide variation between 20 and 60% was observed for operational risks. The study also found that large-scale buildings are less threatened by financial risks. The developed tool will facilitate the stakeholders and designers in identifying project development contextual issues and provide opportunities to optimise the design and operations to enhance performance efficiency and obtain more value from investment in GB assets during the early stages of development in Saudi Arabia and elsewhere.