A case for the inclusion of value management to building refurbishment projects

Abstract

A majority of the buildings that will be standing in year 2050 are the existing buildings of today. Refurbishment will be required to ensure that these buildings are up to par with the comfort standard, technological advancement, and legislation of that time. Regardless of the benefits of building refurbishment, it is filled with a lot of risks and uncertainties that makes the process difficult to manage. Value management has been a great improvement to the construction industry because it ensures new buildings performs at optimum level at the least possible cost. Although the refurbishment process is a part of the construction process, the challenges faced are different. This necessitates the need for an investigation into the building refurbishment process.