Glossary

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Titlesort descending
Value Management

A management process that minimises the life cycle cost and maximises service delivery efficiency by addressing the technical and functional dimensions at the early stages of a project (establishment of project objectives, preparation of project brief and consideration of concept & design options) to ensure that: • a fully integrated approach has been adopted • the project is consistent with strategic goals, and • non-build solutions, including demand management, have been properly assessed. (Source: International Infrastructure Management Manual – Ver. 3.0 2006 and Asset Management – Learners Guide: National Treasury).

VO

Variation Order

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