THE APPLICATION of VALUE MANAGEMENT in CONSTRUCTION INDUSTRY - A CASE STUDY on THE COST EFFECTIVENESS of PORTAL FRAME STRUCTURES in FACTORY PROJECTS
Value management (VM) is an organized function-oriented team approach directed at analyzing the functions of a product, system, or supply, for the purpose of enhancing its value by identifying and eliminating unnecessary costs and achieving the required performance at the lowest life-cycle project cost. This paper aims to investigate the development stage of VM and also to improve the implementation of VM in the local construction industry of Malaysia. A case study to analyze the cost-effectiveness of using steel roof truss versus portal frame for factory or warehouse projects is presented in this paper to illustrate the benefits of a VM study. Costeffectiveness is a part of VM study as the procedure towards finding the best alternate way to implement cost effectiveness which is through identifying and removing unnecessary costs without neglecting the required quality and performance in a project and this complies with the aim of a good value management study. Both steel roof truss and portal frame have their own advantages. The result of this study revealed that portal frame had proven to be more cost effective compared to steel roof truss in the construction of factories or warehouses.