A Comprehensive Review of Scholarly Research on Value Methodology in Construction

Since the introduction of value methodology (VM) into the construction industry, VM has gained popularity among both industrial and academic professionals. VM has been applied by various stakeholders at different levels of project development with different tools in attaining value for money, supported by academic research into this management approach and its applications. However, there is little research work analysing the development of scholarly research in the field of VM in construction. This paper presents the findings of a comprehensive review of 45 papers published between January 1993 and March 2013. Content analysis was carried out on papers published in top academic journals in the area of construction engineering and management. The findings revealed that the majority of research works have focused on the applications of VM, with less attention given to the aspect of theory development to support the applications in the future. It is recommended that scholars should explore this niche area, focusing on theory development and its applications of VM in the construction industry.