Leung M.Y. (2005) Value Management. Surveyor Times, H.K.: HKIS, 14(8), 41-42.

New activities towards professional VM qualification in the industry

The concept of Value Management (VM) was first developed by Lawrence Miles in the United States in 1947. At that time, the manufacturing industry in the USA was running at maximum capacity, resulting in shortages of a number of key raw materials and components. Miles created VM technique as a result of attempting to respond to critical material shortages dictated by the nation’s needs during World War II. He recognized that proper analysis of a product’s function often led to improved performance and reduced cost because alternative materials or manufacturing methods were discovered and employed through the analytical process. VM is applied for assessing the best value in terms of the relationship between function and cost.

Gradually, the use of VE techniques spread throughout North America, was introduced in Japan by the mid of 70s, and has since been widely used in Europe, Australia, China and other countries. Today U.S.A., Germany and Japan are the biggest users of the system. VM techniques have been adapted in Hong Kong since 1990, while the Hong Kong Institute of Value Management (HKIVM) was established in 1995.

In recent years, a number of formal documents in Hong Kong (WTBC16/1998; Tang 2001; WTBC35/2002) strongly recommend a wider adoption of VE techniques in order to achieve an excellence in the quality of construction products. Typical savings range from 10 to 20% for most projects. Professional surveyors are not only expected to understand the root definition of VE for team decision making from this project, but they should also be competent enough to become Value Specialists for facilitating/co-facilitating VE workshops for construction projects in Hong Kong and Mainland China. Construction professionals can then help save money of construction projects, and enhance the competitiveness in the overall construction society in Hong Kong. Therefore, VE knowledge is valuable to us as a professional surveyor in the industry.

However, qualified facilitators /co-facilitators are hard to come by in Hong Kong. There has different VM training courses arranged in various international countries (e.g. UK, USA, Australia, Japan, etc.), but it is still confusing for someone who wants to be a VM facilitator in Hong Kong. The Hong Kong Institute of Surveyors thus launches a ‘Construction Value Management’ project and successfully obtained the support from the Professional Services Development Assistant Scheme. The aim of the project is to update and disseminate the VM knowledge and skills as required of construction professionals so as to enhance the competitiveness of professional services in a regional context. Through this project, professional surveyors can gain the benefits, both in Hong Kong and the Mainland, including:

1. quality of professional competence in team decision is enhanced,
2. a good key decision can be made on behalf of the clients for the construction projects,
3. professional services can be expanded as a VM facilitator in the industry, and
4. the professional profile of HK construction professionals is raised internationally, outside of Hong Kong and the Mainland.

The project includes a series of VM seminars, recognized VM courses and international VM congress. VM seminars introduce basic VM knowledge in the construction industry, while the 40-hour VM courses are recognized by the SAVE : The International Society in USA and the HKIVM in HK. Participants who complete the VM ‘module I’ course are eligible to apply an examination of Associate Value Specialist (SAVE) for co-facilitation of VM workshops in Hong Kong and the Mainland. Through the proposed project, the professionals do not only understand the international construction VM knowledge, but also apply them in the practical industry, especially for the key decision making.

VM seminars

VM ‘module 1’ courses (5-day) – recognized by the HKIVM in HK and the SAVE in USA

International VM Congress

VM is applied globally for people responsible for making decisions concerning facility, product, process or procedural activities in various construction activities and capacities. Attendees in the above VM activities, up to the present, came from government departments, construction companies, consultants, developers, universities, etc. Over hundred professionals participated the VM seminars. Five VM students had passed the AVS examination recognized by the SAVE. Hopefully, they will become an international Associate/Certified Value Specialists and a qualified co-facilitator in the approved list of the HK government.

Relevant web-sites:
SAVE International : http://www.value-eng.org/
HKIVM : http://www.hkivm.com.hk/introduction.htm

Through this project (VM concept and VM qualification), professional surveyors can finally help save money of construction projects and enhance the competitiveness in the overall construction society in Hong Kong (i.e. well equipped with better knowledge than Chinese counterpart in providing better & value for money design; and the overseas counterpart as we originally have more mega project experience under Chinese).

  VM Activities

    Project Team

    Events Achieved:

Seminar Workshop Conference Seminar 12   Novel VM Applications in Europe Seminar 11   VM Trends in the United States Seminar 10   Information Analysis for Complex Projects Seminar 9   Innovative Application of the VM for Large, Complex Projects Seminar 8   Innovative VM Techniques in Complex Projects Seminar 7   Successful VM applications in Australia Seminar 6   Enhancing Value in Facilities by VM - Attracting Investment in China (in Xian) Seminar 5   Enhancing Value in Facilities by VM - Attracting Investment in South China (in Beijing) Seminar 4   Extending Your VM Business in China (in Shenzhen) Seminar 3   Sustainability/ LEED & Life Cycle Costing -Their Role in Value-based Design Decision-making (VM) (in HK) Seminar 2   Is Value Engineering successfully internationally? (in HK) Seminar 1   How can the value Management work in the HK construction industry? (in HK) Workshop 8   Formal VM Training Workshops (modeules I and II) for Construction Workshop 7   Key VM phase: Evaluation Analysis Workshop 6   Key VM phase: Creativity Techniques Workshop 5   Key VM phase: Function Analysis Workshop 4   Value Management for Design & Construction methodology & Application Module I - Training workshop (in Beijing) Workshop 3   Value Management for Design & Construction methodology & Application Module I - Training workshop (in HK) Workshop 2   A Key VM Technique: Function Identification (in HK) Workshop 1   VE "CMethodology & Application Module I" CTraining workshop (in HK) International Conference 2   Value Engineering for Construction Projects (VECP05) (in Korea) International Conference 1   Why Re-Invent the Wheel? (in HK)

    Publications

    Contact Us