December 2003

Trends and Resources

HP Impact: Web-based value management toolkit

Best practices, value-enhancingpractices, and value management and engineering are buzzwords usedthroughout the engineering and construction industry. Oftenconfusion and mystery surround the meaning o..

Weirauch, Wendy, Hydrocarbon Processing Staff

Best practices, value-enhancing practices, and value management and engineering are buzzwords used throughout the engineering and construction industry. Often confusion and mystery surround the meaning of these terms. Project teams can become overwhelmed by the diversity and complexity of the value management processes (VMPs). The result is that many companies cannot get value management programs defined, organized and implemented on a project level. The Construction Industry Institute (CII) sponsored a team that has developed an interactive, Web-based tool to aid in understanding and selecting appropriate VMPs. The Value Management Toolkit provides an overview of 44

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