Capital Project Value Propositions
Publication No
WS266-01
Type
Education Material
Publication Date
May 01, 2011
Research Team
RT-266
DOCUMENT DETAILS
Abstract
Filters & Tags
Abstract
This research provides a standardized approach to identifying and communicating owner value interests for a project and aligning the engineering and construction (E&C) response. The findings indicate that owner’s value interests are granular and not just macro level items such as cost, schedule and quality. The results are implemented using the CII ValueShare Tool.
The CII ValueShare Tool maps a project’s characteristics onto industry-derived, prioritized value interests. Owners can use the tool as an internal exercise or as a means of communication with E&Cs. E&Cs can use it to anticipate owner needs and to develop response strategies.
The tool gives owners the means to objectively communicate their value interests for a project and how their achievement will be evaluated. It provides a list of focus points that E&Cs should consider for their response strategies. If an owner has not used the tool, an E&C may present it to an owner to jointly achieve alignment between the two parties or as an aid during negotiations. The tool can be used at any project phase – from concept to project completion – or simply for lessons learned.Filters & Tags
Knowledge Area
Project Phase
Project Function
Industry Group
Research Topic
A Standardized Approach to Identify and Define Owner Value Interests and Align the E&C Response
Keywords
Value Interest,
Project Attribute,
Measure of Value,
Project Characteristics,
E&C Response,
Communication of Execution Strategies,
Internal Alignment,
Management of Change,
Dialog between Owner and Contractor,
Lessons Learned Exercise,
Team Building,
rt266
