<abstract xmlns="http://www.w3.org/1999/xhtml"><bold>Background:</bold> 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.<bold>Objectives:</bold> 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?<bold>Methods/Approach:</bold> A literature study, two questionnaires, a focus group workshop, 8 interviews, and two case studies.<bold>Results:</bold> 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.<bold>Conclusions:</bold> 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.</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.

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

Norwegian University of Science and Technology (NTNU)

Foundation for Scientific and Industrial Research (SINTEF)

Business Systems Research Journal

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

{"article-title":"Best Value Approach (BVA): Enhancing Value Creation in Construction Projects"}

Background: Research has revealed an inadequate understanding of the owners’ and users’ strategic objectives and a lack of methodology for translating these...

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

Published Online: Oct 25, 2017

Page range: 84 - 100

Received: May 01, 2017

Accepted: Jul 04, 2017

DOI: https://doi.org/10.1515/bsrj-2017-0018

Keywords
value creation, conceptual framework, value management, construction project management, life cycle thinking

© 2017 Amin Haddadi et al., published by De Gruyter Open

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

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

Published Online: Oct 25, 2017

Page range: 84 - 100

Received: May 01, 2017

Accepted: Jul 04, 2017

DOI: https://doi.org/10.1515/bsrj-2017-0018

Keywordsvalue creation, conceptual framework, value management, construction project management, life cycle thinking

© 2017 Amin Haddadi et al., published by De Gruyter Open

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Keywords
value creation, conceptual framework, value management, construction project management, life cycle thinking