Developing a soft value management model

Abstract

This paper develops a conceptual model of value management in construction procurement within the framework of goal-setting theory and considers that value management is aimed at the economic and managerial aspects of project development to focus the definitions of project goals which are obtained through the interaction between the client and the project team members. It is postulated that project goal specificity at the commencement of the project enhances participants' commitment and facilitates clear cognised decision making by the participants throughout the project realisation stage. This paper investigates the relationship of project value/goal specificity, participants' decision conflict, commitment and satisfaction in a value management model. The decision process in the value management model consists of two value dimensions, affective and cognitive: project satisfaction is considered as a project outcome which influences future project goal setting. © 2002 Elsevier Science Ltd and IPMA. All rights reserved.