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dc.contributor.author Ekanayake, BJ
dc.contributor.author Sandanayake, YG
dc.contributor.author Ramachandra, T
dc.date.accessioned 2023-02-24T04:18:14Z
dc.date.available 2023-02-24T04:18:14Z
dc.date.issued 2017
dc.identifier.uri http://dl.lib.uom.lk/handle/123/20611
dc.description.abstract Refurbishment projects are characterised with uncertainty and complexity that result in subvert of value for money. In this context, value management (VM) is endorsed as an approach to optimise value for money of construction projects. Enhancing VM application in refurbishment projects seems less, even though employing VM application in new building projects continues. This research developed a framework to enhance VM application in hotel refurbishment projects in Sri Lanka, since refurbishment projects that have employed VM are comparatively high in hotel sector. Data was collected through semi-structured interviews with 18 participants, documents review and observations. The manual and code-based content analysis was used for data analysing. The study revealed that VM is employed in an ad-hoc manner, primarily as a cost reduction exercise. The VM workshops adopted for the case studies were derivatives of the standard SAVE 40-hour job plan and contractors' change proposal. However, this study proved that the ad-hoc application of VM could reduce the project cost on average by 6.81%. Nevertheless, the ad-hoc VM studies contributed to time overruns of 1 to 3 months. Absence of evidence of quantifying the impacts of the other value for money attributes; quality, guest satisfaction and achievement of sustainability was noteworthy. The two topmost challenges to implement VM in refurbishment projects were the inadequate awareness of the client about the significance of VM and insufficient time to conduct the VM study while the project is ongoing. The current study introduced a framework for enhancing VM application in hotel refurbishment projects in Sri Lanka by incorporating strategies on raising awareness, training and development on VM, choosing the appropriate timeframe to apply VM, choosing the appropriate composition for the VM team, choosing the appropriate VM job plan and enabling legal provisions and assistance from regulatory bodies. en_US
dc.description.sponsorship Senate Research Committee en_US
dc.language.iso en en_US
dc.subject SRC en_US
dc.subject SENATE RESEARCH COMMITTEE – Research Report en_US
dc.subject BUILDING ECONOMICS – Research en_US
dc.subject VALUE MANAGEMENT en_US
dc.subject HOTEL REFURBISHMENT PROJECTS – Sri Lanka en_US
dc.title Application of value engineering to building refurbishment projects en_US
dc.type SRC-Report en_US
dc.identifier.department Department of Building Economics en_US
dc.identifier.accno N5179 en_US
dc.identifier.year 2017 en_US
dc.identifier.srgno SRC/LT/2017/19 en_US


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