Best Value Approach (BVA): Enhancing Value Creation in Construction Projects

Abstract

Background: Research has revealed an inadequate understanding of the owners’ and users’ strategic objectives and a lack of methodology for translating these objectives into functional buildings. Fulfilment of owners’ and users’ objectives is fundamental in creating value through a project. Management and design processes can be decisive in achieving the desired objectives. Hence, knowledge about what creates value applied into a management framework will enable higher value creation.

Keywords

• value creation
• conceptual framework
• value management
• construction project management
• life cycle thinking
• l74