Applications of value management in the construction industry in China

Value management (VM) was introduced in China during 1978, when the reform and open door policy started. After a surge of VM applications that emerged in the late 1980s, the development of VM has declined sharply in the recent years in China. Although some successful applications of VM in China's construction industry have been observed, many actions should be taken to exert its full potential to improve value for money for clients. Aims to draw a holistic picture of the current VM practices and provide recommendations for its future development in China's construction industry. Provides a comparison between China's VM approach and the international mainstream to highlight the major differences.