Abstract
Target value design is a new practice in the construction industry promoting concurrent engineering and collaborative design. This paper shows the results of literature survey to identify the influencing factors in the target value design. The paper also presents the results of a questionnaire survey to explore the industry practitioners' perception of the relative importance of the influencing factors. Project stakeholders participating in the survey consider the integration of different project stakeholders in the design phase as critical. The project definition is also regarded as essential in implementing the target value design. However, the market conditions and project attributes are considered as least significant in the target value design process.
Highlights
The construction industry globally has been viewed as highly inefficient
According to Costa and Formoso [16], the construction industry has barriers that prevent the industry from adopting target value design as follows: (1) construction is a project-oriented industry, and each project is unique in terms of project team and design; (2) there are no clear guidelines in how project teams execute the process of target value design; (3) every construction project is run by a different management team
Target value design is a new practice in the construction industry promoting concurrent engineering and collaborative design
Summary
The construction industry globally has been viewed as highly inefficient. Most construction projects suffer from low productivity compared to production systems in other sectors. Decisions made in a design phase influence project cost more than those in a production phase. In this regard, there are many cost reduction efforts in a design phase. Target costing research has been carried out within the framework of lean construction as target value design (TVD) method [4]. Many research reports show that projects can achieve an average cost reduction of 15% if target value design is being applied systematically to the projects [5]. Target value design considers that the final cost is a design parameter driving product and process design while it is regarded as an outcome of the design process in the traditional design process [6]. The goal of this study is to investigate the influencing factors in a target value design process
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