Construction projects succeed when they fulfill stakeholder expectations efficiently and economically.
1. Stakeholder Identification
Stakeholders include:
- Owner / Client
- Architects & Engineers
- Contractors & Subcontractors
- End-Users (operators, community, government)
- Regulatory bodies and funding agencies
Each has different priorities — cost, quality, schedule, compliance, or safety.
A project manager’s task is to balance these needs through communication and negotiation.
2. Stakeholder Analysis
- Identify influence and interest levels.
- Develop engagement strategies: inform, consult, collaborate, or manage closely.
- Maintain transparency to build trust throughout the project lifecycle.
3. Value Engineering (VE)
A systematic process to improve value = function/cost.
VE aims to achieve the same or better function at a lower cost without compromising quality.
Examples of VE Applications:
- Using precast concrete instead of cast-in-situ to reduce labor and time.
- Substituting locally available materials with equivalent performance.
- Re-engineering mechanical systems for lower energy consumption.
Steps in Value Engineering:
- Information Phase – Collect data and define functions.
- Analysis Phase – Identify high-cost/low-value areas.
- Creativity Phase – Brainstorm alternative solutions.
- Evaluation Phase – Compare life-cycle cost and benefits.
- Implementation Phase – Integrate approved alternatives into design.
“Value Engineering is not cost-cutting; it’s intelligent optimization.”