Original scientific paper
https://doi.org/10.1515/bsrj-2017-0018
Best Value Approach (BVA): Enhancing Value Creation in Construction Projects
Amin Haddadi
orcid.org/0000-0003-2967-2305
; Norwegian University of Science and Technology (NTNU), Norway
Agnar Johansen
; Foundation for Scientific and Industrial Research (SINTEF), Norway
Svein Bjørberg
; Norwegian University of Science and Technology (NTNU), Norway
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. Objectives: Providing a framework to enhance value creation in projects by addressing: i) what means and principles should be considered in the front end of a project to secure value creation?; and ii) how can these principles be structured in a framework to maximize the project’s value creation? Methods/Approach: A literature study, two questionnaires, a focus group workshop, 8 interviews, and two case studies. Results: Fulfilment and alignment of users’ needs and owners’ strategies combined with innovative thinking is required for value creation. Challenges and obstacles for value creation are identified, and a framework is suggested. Conclusions: The framework suggests principles that contribute to value creation in each phase of a project. Implementing this methodology will help decision makers towards a better understanding of the objectives and translating them to functional solutions.
Keywords
value creation; conceptual framework; value management; construction project management; life cycle thinking
Hrčak ID:
187347
URI
Publication date:
1.9.2017.
Visits: 1.633 *