The role of stakeholder management in reducing the risks associated with value management in construction projects in Egypt

摘要

Value management (VM) provides a systematic analytical process to get the best value by identifying the best alternative to meet the customer's multiple needs. Value Management in Egypt faces too many problems caused by stakeholders that have negatively affected. This paper aims to reach a general frame work that includes several measures that deal with the risks associated with value management procedures in construction projects in Egypt. Data were gathered from the literature, followed by a qualitative approach through a semi-structured interview, and a quantitative approach through a questionnaire survey. In many companies in Egypt, data were collected from a sample of 84 project managers and project management teams using a questionnaire. By using "frequency analysis" and "measures of central tendencies" as descriptive statistics, it was concluded that there are no methods in most Egyptian construction companies to manage value or manage construction projects' stakeholders, and if there, they do not apply it. The results also show, through exploratory factor analysis, that there are four types of risks associated with value management: administrative risks, financial risks, and logistics risks. This study will help project managers and project management teams to enhance project success by managing risks associated with value management and caused by stakeholders in construction projects in Egypt.