Developing a soft value management model Anita M.M.

Liua, Mei-yung Leungb,* aDepartment of Real Estate and Construction, University of Hong Kong, Pokfulam, Hong Kong bDepartment of Building and Construction, City University of Hong Kong, Tat Chee Avenue, Kowloon Tong, Hong Kong Received 23 August 2000; received in revised form 28 November 2000; accepted 6 M arch 2001 Abstract This paper develops a conceptual model of value management in construction procu rement within the framework of goal-setting theory and considers that value management is aimed at the economic and manageri al aspects of project development to focus the definitions of project goals which are obtained through the interaction between the client and the project team members. It is postulated that project goal specificity at the commencement of the project enhances partic ipants commitment and facilitates clear cognised decision making by the participants throughout the project realisation stage. This paper investigates the relationship of project value/goal specificity, participants decision conflict, commitment and sati sfaction in a value management model. The decision process in the value management model consists of two value dimensions, affective and cognitive; project satisfaction is considered as a project outcome which influences future project goal setting. # 2002 ElsevierScience Ltd and IPMA. All rights