Value Management (VM) is well acknowledged for its ability to provide a basis for achieving value for money in a construction project. VM maximizes the functional value of a project through the comparison and audit of all decisions against a value system determined by the client. This service requires the client to transmit clear value requirements of a project to the project designers.
 

Among the generic aims of VM implementation in construction projects are:
(i)     To reconcile differing needs within minimum resources
(ii)    To seek alternate ways to accomplish functions
(iii)   To optimize design through eliminating unnecessary costs
(iv)   To improve performance in delivering best value
(v)    To seek innovation and continuous improvement

In general, among most visible benefits arising out of the implementation of VM include the followings:
(i)      Better business decisions
(ii)     Robust management style
(iii)    Effective use of methods and tools

(iv)       Improved products and services
(v)        Improved communication
(vi)       Positive human dynamics

This flow chart illustrates the interventions of VA, VE and VR studies along the government construction project life cycle. VE is most effective at the Concept Design development (VE I). Somehow depends on complexity of the project, further intervention (VE II) may be required at the Detail Design development.