Year: 2024
Type: article
Study design: Observational Study
Abstract: The construction industry is the primary contributor to the growth of other sectors within a country. Despite the successful completion of several construction projects, awareness of Value Management (VM) development remains limited. VM is a practice that focuses on ensuring that planned projects can achieve their objectives, particularly in terms of cost, schedule and quality. VM is still in its early stages of development and implementation within the Malaysian construction industry. Due to this scenario, the aim of this research is to expand awareness of the implementation of VM among developers and encourage developers to apply VM to their projects. Hence, the objective of this research is to identify the level of awareness of VM implementation among developers and to determine the challenges that developers faced while implementing the VM method. A quantitative approach was employed, distributing 148 questionnaires, of which 102 were completed and returned. The respondents for this research are among the developers in Negeri Sembilan and Johor who are registered under the Real Estate and Housing Developers Association Malaysia (REHDA). The results indicate that the respondent is aware of the existence of VM and understands the benefits of VM. The highest challenge developers faced was a lack of professional practice in VM. Ultimately, this research paper aimed to help enhance the execution of VM within Malaysian development firms.
Language: English
Subfield: Strategy and Management
Domain: Social Sciences
Open Access status: diamond
Funder: Universiti Teknologi MARA
OpenAlex ID: W4402882918