Achieving Value for Money in Capital Build Projects 1st Edition by Angela Vodden,Champika Liyanage,Akintola Akintoye ISBN 081536119X 9780815361190

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Product details:

ISBN 10: 081536119X

ISBN 13: 9780815361190 

Author: Angela Vodden, Champika Liyanage, Akintola Akintoye

This book is the first to bring together academic and practitioner views of Value for Money (VFM). VFM has been used to assess whether or not an organisation has obtained the maximum benefit within the resources available to it. A concept used by the public sector to assess the benefits of major built environment projects, it has become a major tenet of public private partnerships, capital project infrastructure and civil engineering megaprojects.

This book presents and discusses the various debates surrounding the concept of Value for Money. It provides an international perspective on VFM by drawing upon the existing and fast developing body of principles and practices for Capital Build Projects. Readers will gain a level of understanding of the issues involved, the challenges, opportunities and the support mechanisms and protocols required for implementation of VFM in capital building development.

Ultimately, the book presents a protocol that has been developed to track and monitor the VFM of a capital project from day 1, an Equilibrium Testing Mechanism (ETM) developed by the authors. This testing mechanism allows each of the parties to a project to monitor their VFM position at any given stage of a project from the beginning to the end of the build stage and beyond as necessary.

This book is both a useful reference for researchers and a practical guide for the construction and engineering industry.

Table of contents:

1. The Historic Development of Value for Money within the UK, China, Australia, South Africa and India

2. Tracking VfM: Concept, Definition, Benchmark, Tracking and Testing

3. The Stakeholder’s Roles, Responsibilities, Expectations, Aims, Incentives and Drivers

4. Identification of the Value for Money Stages

5. The Need for the VfM Tracking Mechanism

6. Value for Money Protocol, Bid Document and Contract Drafting

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Tags: Angela Vodden, Champika Liyanage, Akintola Akintoye, Value for Money, Capital Build Projects