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Ekanayake, B J, YSandanayake, Y and Ramachandra, T (2018) Application of Value Management to Refurbishment Projects: A Sri Lankan Case Study. In: Gorse, C and Neilson, C J (Eds.), Proceedings 34th Annual ARCOM Conference, 3-5 September 2018, Queen’s University, Belfast, UK. Association of Researchers in Construction Management, 597–606.
- Type: Conference Proceedings
- Keywords: Refurbishment Projects, Sri Lanka, Value for Money, Value Management
- ISBN/ISSN: 978-0-9955463-2-5
- URL: http://www.arcom.ac.uk/-docs/proceedings/da6e7427de85359f35447bf49492986f.pdf
- Abstract:
Refurbishment offers solutions to issues such as deterioration and obsolescence of buildings by upgrading, altering, extending, renovating and improving facilities. Nevertheless, refurbishment projects are uncertain and sophisticated with many challenges. In this context, value management (VM) is recognised as a suitable approach, which improves quality and functionality, while ensuring value for money. This research therefore, investigated the application of VM to refurbishment projects in Sri Lanka. Three hotel refurbishment projects procured under traditional method, which have employed VM were investigated and data were analysed using content analysis. According to findings, meeting the client’s budget, time overruns, limitations to introduce changes to existing structures and simultaneous operations in buildings during refurbishment are the top most challenges encountered. Although SAVE 40-hour job plan is recognised as the most appropriate VM job plan approach for construction projects, only one project has applied it, as the necessity of applying VM emerged only during the construction stage with the focus of reducing costs through alternatives. In contrast, the other two projects have employed contractor’s change proposal to deliver VM during the tender stage, as the contractors were influenced to employ VM as a cost cutting exercise. Respondents emphasised that VM is practiced in Sri Lankan refurbishment projects in an ad-hoc manner perceiving it as a cost cutting exercise. They indicated that lack of awareness about VM, low participation of project team members as a result of traditional procurement method and negative attitude of the client towards implementing VM are the major contributors, which avert exploiting the full potential of value enhancement through VM. Therefore, this study recommends strategies such as incorporating VM during the refurbishment design stage, making the client aware of the importance of VM and allocating time to conduct VM workshops during project lifecycle for the systematic implementation of VM in refurbishment projects.