Achieving Value for Money in Sri Lankan Construction Industry

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KCW Liyanage
Student, Department of Quantity Surveying, Kotelawala Defence University, Sri Lanka

Dr AR Rupasinghe
Senior Lecturer, Faculty of Built Environment and Spatial Sciences, Kotelawala Defence University, Sri Lanka

 

Abstract

Value Engineering (VE) is a trending concept which is currently being used to get the maximum utility of resources and obtaining Best Value for Money (VFM) in the construction industry. The construction industry is an unpredictable industry where numerous unexpected changes and situations occur during all the stages of Design, Construction, and Operational. Therefore, implementation of VE concept where the unnecessary costs are eliminated and encourage for an effective and efficient Construction. This paper discusses the main requirement of assisting to adaptation of VE technology and other modern technologies in Construction industry compared to foreign industry that affects to the investment of the Employer as the main objective of this qualitative research study conducted through expert interviews.

Keywords

Cost Elimination; Value Engineering; Value for Money.