ABSTRACT
Value management should not be seen as a conflict-oriented design review, cost reduction or standardization exercise. Maximum value as defined by Burt (1975) is obtained from a required level of quality as least cost, the highest level of
quality for a given cost or from an optimum compromise between the two. Value management is therefore the management of a process to obtain maximum value on a scale determined by the client. A number of techniques are identified as being useful in this enterprise but none are compulsory.
