Soo , Yong Kim and Yeon , San Lee and Viet , Thanh Nguyen and Van , Truong Luu
(2016)
Barriers to Applying Value Management in the Vietnamese
Construction Industry.
Journal of Construction in Developing Countries , 21 (2).
pp. 55-80.
ISSN 1823-6499
Abstract
The value management (VM) approach often faces many barriers when applied in
the Vietnamese construction industry, as well as in many other developing countries. Most of
the related past works identify an insufficient number of factors that hinder the application of
VM. This study identified 18 factors hindering the application of VM in the construction
industry. To gather views from industrial practitioners with many years of experience in
construction projects, this study administered questionnaire surveys. The findings revealed
that the four greatest obstacles to the application of VM were the lack of VM experts, the
lack of knowledge about VM, the lack of local VM guidelines, as well as technical norms and
standards, and the lack of investments, support policies and human resources to conduct
VM in construction companies. Additionally, the factor analysis method was applied to
investigate the correlation effects of the hindrance factors, which resulted in four core
components representing the hindrance factors, namely, lack of qualified personnel to
implement VM, inherent difficulties with VM workshops, lack of awareness of VM, and lack of
VM application documents. The study contributes to the body of knowledge relating to the
application of VM in the construction industry. The findings can be generalised to many
developing countries, as they face similar problems in terms of promoting the application of
VM in the construction industry
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