Status of value management studies in construction projects: A systematic review

Abstract

The focus of this paper is to examine the status of Value Management (VM) studies in specific construction projects by reviewing 104 relevant articles published from 2001 to 2021. The analysis indicates that the project type, project size, and research theme of VM studies conducted on various construction projects are all significantly correlated. Building projects and large-scale projects are identified as the most favoured subjects of VM studies to date. Meanwhile, researchers are keener on investigating the performance, impacts, and strategy of VM in different construction projects. Based on the status observed, some possible directions for future research are addressed. This paper not only provides evidence to demonstrate VM's broad applicability, but also serves as a favourable reference for researchers to select research issues and topics with greater freedom to develop necessary VM studies in the construction industry.