Identification of the Implementation Issues of Value Management Concept to the Sri Lankan Construction Industry

Abstract

The concept of Value Management (VM) is a tool using for maximizing the value, it is becoming more appropriate to construction industry of Sri Lanka. The VM will help to reduce cost which help the Sri Lankan construction industry. This research goals to address obstacles to the implementation of VM in the construction industry of Sri Lanka with a view to providing conceivable measures in avoiding these difficulties and increasing the usage of the system within the construction industry. The level of knowledge and implementation of VM practices, as well as the barriers to its implementation in the construction industry were evaluated by using of a questioner survey strategy and interviews. Construction specialists were selected by means of stratified random sampling. The data was analyzed using frequency index analysis. The study reveals that the topmost challenge to implement VM as, the minimal level of knowledge of VM between construction professionals. There for flow of knowledge must be given from the undergraduate level to the senior professionals. Avoiding these barriers in order towards accomplish enhanced quality construction industry practice, it was recommended that the importance of introduce course modules relates to VM at the academic level. Further this research will benefit in study in implementing a model for VM/VE for the Sri Lankan construction context.