THE STUDY OF MULI-LEVEL PERFORMANCE MEASUREMENT APPROACH FOR VALUE MANAGEMENT OF CIVIL INFRASTRUCTURE PROJECTS

Best value in value engineering has relation to cost and performance. But a severe problem in VE study of a project is to reduce value due to loss of performance, caused by focusing on cost reduction. Also a lack of understanding performance concept, no trial VE workshop as well as cost saving-based policy have not satisfied customer needs. A efficient and practical methodology for accomplishing best value in construction projects is proposed. This study developed a more objective approach for performance measurement approach of mega projects and suggested a systematic process of performance quantitative analysis verifying value improvement. The proposed performance measurement method would be very useful for better communication and consensus between stakeholders and VE team especially through value engineering.