Abstract

A successful project requires timely delivery within budget and specification. This is often not achieved in construction projects. Value management is a structured approach to identifying the functions of a project, and providing the necessary functions to meet the required performance at the lowest overall cost, it adds value to construction projects but not widely adopted. This research work assessed Value Management practices in construction project delivery in Nigeria by examining the practices and barriers to its application in Nigerian Construction projects. The survey Research design was adopted for the study. A structured questionnaire was administered to consultants (Architects, Quantity Surveyors and Engineers). A total number of 358 questionnaires were sent out and 103 were completed and returned. The data collected was analyzed using descriptive and inferential statistics using SPSS 21. The findings indicated that cost management practice and business case management Practices ranked the highest with a mean of 4.20 and 4.10, respectively. Fear of incurring additional cost due to value management study is the highest barrier with a mean of 4.33. The factor analysis result classified the barriers identified in to 6 compartments. The result shows that personnel barrier accounts for 37.50% of the barriers identified. Strategies for trainings on Value management should be encouraged for effective delivery of construction projects.