FRAMEWORK FOR VALUE MANAGEMENT IMPLEMENTATION IN ABUJA CONSTRUCTION COMPANIES, NIGERIA.

FRAMEWORK FOR VALUE MANAGEMENT IMPLEMENTATION IN ABUJA CONSTRUCTION COMPANIES, NIGERIA.

ABSTRACT

Value Management (VM) has played a broad role in supporting effective decision making on construction projects, increased project performance and quality, balance project objectives, and manage community expectations in many countries around the world. But applicability of VM in Nigeria construction industry has experienced setbacks compared with rest of the world. It is on this basis that the study examined the factors responsible for the setbacks with a view to recommending sustainable solutions. Primary data was collected from construction professionals (architects, quantity surveyors, civil engineers and estate surveyors) through closed ended questionnaires. The study sampled 235 professionals across the construction firms in Abuja through simple random sampling technique. The study employed descriptive statistics and factor analysis to analyze the data collected from the respondents. Descriptive statistics (mean item score and relative importance index) identified four (4) value management tools used in VM practice. These include brainstorming, life cycle cost analysis, function analysis and evaluation matrix. Fourteen (14) benefit factors of VM were identified which constituted 66.169% variance in original variables. These include performance benefit, technological benefit, effective cost, quality standard, functional performance, innovative benefits, professional benefits, wastage avoidance, functional quality, cost benefit, efficient benefit, technical benefits and client value management. The result of factor analysis revealed six factors which constituted about 65.690% variance in the original factors hindering value management application, which include technical and public policy factors, professional negligence, non- complacency and management defects, human factors and inflexibility, lack of manpower and project focus, and poor knowledge. The study recommends that workshops and seminars be organized by professional bodies from time to time so as to create more awareness of value management in the construction industry. The result of factor analysis was used to develop a framework. The researcher recommends that the framework developed in this study be used by government for VM implementation. Project stakeholders should be proactive in addressing the aforementioned factors as they posed critical setbacks to value management implementation by Nigerian construction professionals.

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