What is it about?
This paper’s analyses show that neither project governance alone, nor project management separated from governance, but the adequate combination of governance and management elements that can secure maximum value creation for building owners and users. Thus, the analyses have identified success factors and enablers for value creation seen from a combined governance and management perspective.
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Why is it important?
Facilitation of value creation in building or renovation projects is all about having the right focus and involving the right parties at the right time. This finding is of great importance among others for facility managers and real estate developers, Facility managers who get involved in building or significant renovation projects should be aware of consulting engineers who might be more concerned with the process and the output of the building process, than the outcome. If involved in in building or renovation projects, facility managers should also be aware of financially oriented building owners and their project managers that might be more concerned with the building’s financial value than the building’s contribution to the demand organization's value creation.
Perspectives
During the analysis, we also noticed there is a gap between theory and practice. Neither academia nor practitioners have still developed adequate concepts and understanding to achieve value creation in building and renovation projects.
Associate professor Knut Boge
Norwegian University of Life Sciences
Read the Original
This page is a summary of: Facilitating Building Projects’ Short-Term and Long-Term Value Creation, Buildings, July 2021, MDPI AG,
DOI: 10.3390/buildings11080332.
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