Examination of the best, analogous, competing terms to describe value in construction projects

Value is a crucial construct in project delivery. Yet, it is also a complex construct, with varied meanings. This study uses triangulated, empirical methods to examine competing terms used to imply value in the literature (focusing on construction projects). Deeper meaning is also provided on the subject from both the manifest and latent perspectives. At the manifest level, fulfilled goals and standards are the dominant, best terms perceived to mean value delivery in construction projects. The latent structure of the competing terms, however, exhibits these two dimensions of value: potential requirements and their yardsticks; conviction/ideological inclination. (C) 2009 Elsevier Ltd and IPMA. All rights reserved.