Study of Value Management in Malaysian Construction Industry

Chian, Ji Xiang (2019) Study of Value Management in Malaysian Construction Industry. Final Year Project (Bachelor), Tunku Abdul Rahman University College.

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Abstract

Value management study was introduced into Malaysian construction’s industry in early 1980s. However, this system is yet to be widely implemented or even known by most Malaysians after 25years of implementation. The main reasons behind this tragedy are due to the lack of understandings on the system, lack of awareness on the study and vague definition and factors when utilising the system. This research’s objectives are to solve stated problems by providing a better concept explanation on the system, raises the level of awareness and identify the critical factors on utilising the value management system. This research would contribute to highlight the importance of value management and clarify its definition. The penultimate significance of this study would be the development of value management guidelines. The main focus of such study would be on the contractors, developers and homebuyers (public) groups. 40 respondents would be chosen from probability sampling method to provide their opinions on the value management matters through questionnaires. SPSS software would be utilised after the collection of data. It will help in analysing the data through multiple methods such as frequency distribution method, multiple response analyse method and independent t-test. The outcomes of the analysis would be the final declaration of this research, explaining the results and conclusion of such study. In conclusion, value management study should be brought into stages in Malaysian construction industry since it has been proven worthy by overseas countries.