Value Management in China: Reasons for the Decline in Recent Years

摘要

Value management (VM) has been used in Mainland China for more than two decades. After a surge of VM applications emerged in the late 1980s, the development of VM has declined in recent years. It has been observed that many regional VM societies ceased to exist, many local VM branches hardly organized any activities, and anumber of VM-related periodicals also ceased to publish. In order to promote the healthy development of VM in China, it is important to disclose the underlying reasons for the decline. After a brief review of the historical development of VM in China, based on document analysis of VM cases and semi-structured interviews of Chinese VM experts, this paper identifies seven main reasons blocking VM sustainable development in China. Finally, a number of recommendations were given to promote VM applications in China, especially in the construction industry, in future.