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Çıdık, M S (2020) Project Managing the Social Value of Built Assets: A Call for a Focus on Value Manifestation. In: Scott, L and Neilson, C J (Eds.), Proceedings 36th Annual ARCOM Conference, 7-8 September 2020, UK, Association of Researchers in Construction Management, 35-44.
- Type: Conference Proceedings
- Keywords: definition, measurement, project management, social value, spatiality
- ISBN/ISSN: 978-0-9955463-3-2
- URL: http://www.arcom.ac.uk/-docs/proceedings/9e4aa106f62322a4560fd15231c47691.pdf
‘Social value’ has long been a consideration for public project appraisal based on economic approaches. Such approaches mainly consider the monetary equivalents of social costs and benefits for the comparison of different investment alternatives. On the other hand, policy on public procurement all around the world increasingly pushes for ‘realisation’ of social value. However, there has been little research and academic debate in construction management literature regarding realisation of social value by the means of construction projects. One of the key questions that needs to be explored is what construction project management can, or should, do to actually achieve at the operational stage the social value envisaged at the appraisal stage. Exploring this question requires first a managerial definition of ‘social value’. Hence, the present paper proposes ‘social value’ as a domain of construction project management. A conceptual discussion on ‘social value’ and its management is provided relying on a practice-theoretical perspective which assumes that value is realised in situated everyday practices. When seen from a practice-theoretical view, ‘social value’ is continuously in-making from the point it is articulated to the point it is realised during operational stage. This suggests that the social value of construction projects at the operational stage is the outcome of the ongoing socially-embedded (and intersubjective) negotiations between various stakeholders. Therefore, managing social value requires an awareness of the different social structures and interactions that dominate different stages of the project life-cycle, and interventions to bridge those. It is concluded that construction project management should develop a social strategy as well as social processes, in addition to technical and operational ones, in order to achieve at the operational stage the social value envisaged at the appraisal stage.