Wong, P S P; Cheung, S O and Chan, L L Y (2004) Enhancing construction value chain effectiveness in Hong Kong. In: Khosrowshahi, F (ed.) Proceedings of 20th Annual ARCOM Conference, 1-3 September 2004, Edinburgh, UK.
Abstract
Value Chain Management (VCM) is recognized as a contemporary concept that improves the organizational efficiency in construction by sustaining and enhancing the competitive advantages of all the participating firms in the production process. Nevertheless, competitive advantages were difficult to be enhanced or sustained unless effective strategies could be devised to save project cost and add project value. This paper reports a study that seeks to identify the value-creating activities in construction projects and to study their effectiveness to achieve cost-saving and value-adding. The results of a questionnaire survey conducted in Hong Kong suggested that all value-creating activities as identified in the previous literatures are effective to save cost and add value in the construction projects. In addition, 'Understanding clients' requirement' and 'Maintaining effective and sufficient communication route' were found as the most effective activity to achieve cost-saving and value-adding respectively.
| Item Type: | Conference Paper (Paper) |
|---|---|
| Uncontrolled Keywords: | value chain management; cost-saving; value-adding |
| Index terms: | effectiveness, questionnaire, construction project, survey, project cost, production process, strategy, efficiency, Hong Kong, value chain, competitive advantage |
| Subjects: | market analysis, production management, Geography, value chain strategy, management, manufacturing engineering, economics, performance management, data collection methods |
| Topics: | Engineering Principles, Geographical Context, Project Management, Research Practice, Cost Management, Business Strategy, Supply Chain Management, Quality Management |
| Descriptive scope: | 4 PCEA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here