This book looks at the transfer and further development of value management procedures, as practised in North America, in a United Kingdom and Commonwealth construction industry context.

Value management (VM), first developed in the USA, is now a growing service in the UK construction industry as well as developing rapidly on mainland Europe. The quantity surveying profession has recently targeted it as one of its key services for development over the next decade. This guide describes VM in design and construction and suggests a method for implementation. The philosophy, tools and techniques of VM are highlighted and a critical appraisal is given of how it has been implemented in the North American construction industry. VM and cost management are differentiated, showing how these distinct services provide a powerful and integrated approach to the economic management of projects - especially during design evolution. The authors bring insights from six years of research into VM in North America, the UK and mainland Europe. The book provides an in-depth exploration of functional analysis, presents a series of North American case studies of projects, approaches to the implementation of VM, and a successful VM consultancy firm. A significant aspect of the book is a number of tools and techniques for costing. It concludes by presenting the authors' approach to the pract