Chapter 6 Value Management in Northern Cyprus

Value for money (VfM) is a concept widely recognized by many even beyond the field of the built environment. A concept known as value management (VM) is one of its kind that construction professionals and clients employ towards achieving vVfM. This study critically examined the VM practices of the construction sector of Northern Cyprus. The first section introduced what value management is from various professionals views and the concept behind it. The second aspect of this work looked at VM considering various expert research on the field. The third section looked at how VM is practised in Northern Cyprus. The result shows that VM practice is still in its infancy even though some construction companies or firms have adopted the process for some of their projects. The term value management is not common among the construction professionals in Northern Cyprus, but instead, they are more familiar with what they called ‘job plan’.