Value management in building design and construction designing buildings wiki share your construction industry knowledge value management vm and value engineering ve are techniques concerned with defining maximising and achieving value for money vfm these are systematic team based collaborative approaches initially pioneered in the united states during the second world war to secure maximum output from limited resources. An appendix includes an extensive set of tools and techniques of use in value management practice construction clients including those in both the public and private sectors and professionals such as construction cost consultants quantity surveyors architects asset managers construction engineers and construction managers will all find value management of construction projects to be essential reading it will also be of interest to researchers and students on construction rela. This book presents an integrated value philosophy methodology and tool kit for improving project delivery for clients based on best practice it combines the theory and practice of value management and is written in such a way that the theory methodology workshop styles tools and techniques can be read independently if the reader wishes. Value management of construction projects 2nd edition by john kelly steven male and drunimond graham value management is the name given to a process in which the functional benefits of a project are made explicit and appraised consistent with a value system determined by the client customer or other stakeholders