Analysis of value and project goal specificity in value management

Abstract

Value is a subjective term and is manifested in different ways such as attitude, belief, desire, preference, need and criteria. In this paper, a cognitive value management model for construction procurement is developed to examine how value is influenced by previous project outcomes and other environmental dynamics that affect project goal setting and conflict resolution in the value management process. The relationships among the variables of value specificity, goal specificity, conflict resolution and participant satisfaction are investigated in a behavioural model of value management. It is postulated that value-goal specificity and conflict resolution (integration) level in the value management process have a direct impact on satisfaction of project participants. The findings in a questionnaire survey indicate that more specific value and goal and higher conflict resolution (integration) level in the goal setting process can improve the participants' satisfaction.