Value Management Study Pre-reading Paper

Value Management is a proactive, creative problem-solving process which aims to attain optimum value by providing the necessary functions at the least cost without prejudice to specified quality and performance.

Value Management Study (VMS) is a structured team approach to problem solving that can be applied to the objective setting, concept, design and construction stages and the on-going management of buildings or other projects.

The purpose of this pre-reading paper is to provide Value Management Study participants background information on the concepts and tools used in conducting VMS.