Exploring Value Generation in Target Value Design Applying a Value Analysis Model
Target value design (TVD) is a management approach that applies target costing in the design and construction industry. TVD enables a project environment with favorable characteristics to generate value. However, because the TVD’s primary assessment is cost, target cost can be met without necessaril...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
MDPI AG
2022-06-01
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| Series: | Buildings |
| Subjects: | |
| Online Access: | https://www.mdpi.com/2075-5309/12/7/922 |
| _version_ | 1827619087138684928 |
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| author | Zulay Giménez Claudio Mourgues Luis F. Alarcón Harrison Mesa |
| author_facet | Zulay Giménez Claudio Mourgues Luis F. Alarcón Harrison Mesa |
| author_sort | Zulay Giménez |
| collection | DOAJ |
| description | Target value design (TVD) is a management approach that applies target costing in the design and construction industry. TVD enables a project environment with favorable characteristics to generate value. However, because the TVD’s primary assessment is cost, target cost can be met without necessarily achieving the project’s full value. This research applies the action research approach to implement TVD in a housing project and explores the value generation of the project using a value analysis model (VAM) to study the balance between cost and value fulfillment in the product and design process. According to the results, even though the target cost was achieved, the desired value of the project was not achieved during the project design. However, there is a tendency to increase value over time to a greater extent in the product and not so much in the process. The main contributions of this study are the possibility of comparing cost and value, identifying the emphasis of product over process and cost over value throughout the TVD project. This study enhances the literature on project value generation and maximization, offering new knowledge for a better understanding of how to conduct a value analysis in combination with costing in TVD projects. |
| first_indexed | 2024-03-09T10:21:17Z |
| format | Article |
| id | doaj.art-773190329c754466ab6e7b4c5c1a21d7 |
| institution | Directory Open Access Journal |
| issn | 2075-5309 |
| language | English |
| last_indexed | 2024-03-09T10:21:17Z |
| publishDate | 2022-06-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Buildings |
| spelling | doaj.art-773190329c754466ab6e7b4c5c1a21d72023-12-01T21:58:14ZengMDPI AGBuildings2075-53092022-06-0112792210.3390/buildings12070922Exploring Value Generation in Target Value Design Applying a Value Analysis ModelZulay Giménez0Claudio Mourgues1Luis F. Alarcón2Harrison Mesa3School of Civil Construction, Faculty of Engineering, Pontificia Universidad Católica de Chile, Santiago 7810000, ChileSchool of Engineering, Pontificia Universidad Católica de Chile, Santiago 7810000, ChileSchool of Engineering, Pontificia Universidad Católica de Chile, Santiago 7810000, ChileSchool of Civil Construction, Faculty of Engineering, Pontificia Universidad Católica de Chile, Santiago 7810000, ChileTarget value design (TVD) is a management approach that applies target costing in the design and construction industry. TVD enables a project environment with favorable characteristics to generate value. However, because the TVD’s primary assessment is cost, target cost can be met without necessarily achieving the project’s full value. This research applies the action research approach to implement TVD in a housing project and explores the value generation of the project using a value analysis model (VAM) to study the balance between cost and value fulfillment in the product and design process. According to the results, even though the target cost was achieved, the desired value of the project was not achieved during the project design. However, there is a tendency to increase value over time to a greater extent in the product and not so much in the process. The main contributions of this study are the possibility of comparing cost and value, identifying the emphasis of product over process and cost over value throughout the TVD project. This study enhances the literature on project value generation and maximization, offering new knowledge for a better understanding of how to conduct a value analysis in combination with costing in TVD projects.https://www.mdpi.com/2075-5309/12/7/922target value designvalue generationvalue measurementlean designvalue analysistarget costing |
| spellingShingle | Zulay Giménez Claudio Mourgues Luis F. Alarcón Harrison Mesa Exploring Value Generation in Target Value Design Applying a Value Analysis Model Buildings target value design value generation value measurement lean design value analysis target costing |
| title | Exploring Value Generation in Target Value Design Applying a Value Analysis Model |
| title_full | Exploring Value Generation in Target Value Design Applying a Value Analysis Model |
| title_fullStr | Exploring Value Generation in Target Value Design Applying a Value Analysis Model |
| title_full_unstemmed | Exploring Value Generation in Target Value Design Applying a Value Analysis Model |
| title_short | Exploring Value Generation in Target Value Design Applying a Value Analysis Model |
| title_sort | exploring value generation in target value design applying a value analysis model |
| topic | target value design value generation value measurement lean design value analysis target costing |
| url | https://www.mdpi.com/2075-5309/12/7/922 |
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