Evaluation of barriers to value management application in construction projects.

Value Management (VM) initiatives have been recognized as beneficial to the construction industry of most developed and developing countries. The Society of American Value Engineers (SAVE) has reiterated that the application of VM methodology would enhance the quality and performance of construction projects. Though a number of countries apply the VM technique, a developing country like Nigeria seems to have a limited application. This study therefore evaluates the critical barriers to VM application in the Nigerian construction industry. Data collection was based on self-administered questionnaires from construction professionals, while data analysis techniques employed include: descriptive analysis, normality test; reliability test; validity test using Kaiser-Meyer-Olkin (KMO) and Barlett’s test of sphericity; factor analysis; and structural equation modelling (SEM). Lack of VM experts, lack of awareness on VM among clients, poor working relationship among stakeholders, inadequate facilitation skills/training, and absence of local VM guidelines are the major barriers to VM practice. Fifteen (15) barriers were validated under four major classifications (People, Government, Environment, and Methodology). The implication of this study is to assist construction practitioners, researchers, and academics to focus on the important concerns that are necessary to support the application of VM in developing countries in order to enhance the value of construction projects.