A Study of Virtual Value Management Workshop: Identifying Risks of Its Implementation

Zhao, Yuan and Shen, Geoffrey Qiping and Chung, Kin Hung and Mohamad Ramly, Zuhaili (2013) A Study of Virtual Value Management Workshop: Identifying Risks of Its Implementation. ICCREM 2013: Construction and Operation in the Context of Sustainability. pp. 712-724.

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Related URL: http://dx.doi.org/10.1061/9780784413135.067

Abstract

Value Management (VM) studies often encounter a problem that key stakeholders of a construction project are geographically dispersed and it is difficult to assemble them in a specific location on appointed time to conduct such VM studies. Therefore, virtual VM workshop is proposed to enable online participation of project stakeholders. This paper presented major risks in conducting virtual VM workshop for construction projects. In order to identify these risks, the critical success factors (CSFs) were identified first. A literature review, an experimental study and a follow-up questionnaire survey were conducted to identify the CSFs and the problems. Meanwhile, a Virtual VM System (VVMS) has been developed in this research to support the implementation of VM workshops. Finally, 7 major risks of virtual VM workshops are identified, and how to measure these risks in virtual VM studies is also discussed.

Item Type: Article
Uncontrolled Keywords: Risk management, Construction management, Value engineering
Subjects: H Social Sciences > HD Industries. Land use. Labor > HD61 Risk Management
Q Science > Q Science (General)
T Technology > TA Engineering (General). Civil engineering (General)
Divisions: Faculty of Built Environment > Construction Contract Management
Depositing User: FAB IR Admin
Date Deposited: 11 Oct 2016 04:17
Last Modified: 11 Oct 2016 04:17
URI: http://epublication.fab.utm.my/id/eprint/541

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