Value Management in Waste Water Treatment - Research Paper Example

The paper "Value Management in Waste Water Treatment" is a perfect example of a management research paper. The term value management has had numerous connotations among different people depending on the targeted goals to which the management is geared. Different regions have different meanings and conceptions regarding the issue. The origin of value management in the construction industry can be traced back to America after the Second World War. The first company to have asserted the importance of value management in her construction works was the General Electric Company prompted by the shortage of raw materials and the need to effectively utilize the available resources for effective economic gains.

The main initial intention behind this procedure was to minimize construction costs and reduce the company’s expenditure to manageable levels while maintaining the quality and standards required. The concept was then adopted by most manufacturing industries in the USA before its spread and adoption by almost all construction industries around the globe. Today, value management forms an integral part of the construction process in the most developed regions such as the UK, USA, Canada, Australia etc.

construction companies in the other developing nations have also begun adopting value management as a necessity for effective construction purposes.Regional definitions vary greatly in the definition of the term value management depending on their perceptions about it. In the UK, value management is mainly concerned with cost reduction as Geoffrey, Shen, & Yu, (2008) records in his definition of the same;“Value management is a systematic and structured process of team-based decision making.

It aims to achieve the best value for a project by defining those functions required to achieve the value objectives and delivering those functions at the least cost (whole life cost or resource use), consistent with the required quality performance” (pg: 8)In this paper, however, I am going to peg my argument based on Green & Liu, (2006) definition of value management encompassing not only cost-cutting as the main intention but also looking forward to offering proper management strategies at various constructional stages a project undergoes.