Value Management (VM) is a structured, team-oriented approach to problem solving that can be applied to the concept, design, construction and on-going management phases of a project. The primary reasons for any client or consultant to commission a VM study is to achieve value improvements and/or monetary savings. The Framework document This has been developed from an international benchmarking exercise of VM processes, procedures, tools and techniques used in construciton and manufacturing. It presents clear, step-by-step procedures for undertaking the VM process on construction projects and highlights the requirements at specific 'value opportunity' points in the project life cycle. Practitioners and clients can use this framework to develop specific agendas and procedures to ensure they will receive the maximum benefit from the tools and techniques presented. The Research document This document presents the findings of the three year research programme that formed the basis for the Framework results. It compares and contrasts the various methodologies, tools, and techniques of VM and highlights the strengths and weaknesses of various procedures at each stage of the product life cycle. Fieldwork for the report was undertaken in the UK, mainland Europe, North America and Australia. In addition, regional workshops comprising clients, designers, construction professionals and professional associations were held to critically appraise the Framework before it was finalised. See also related publications The Value Management Benchmark: The Framework document and The Value Management Benchmark: The Research results. THE FRAMEWORK DOCUMENT, THE RESEARCH DOCUMENT AND THE INTERACTIVE CD ARE AVAILABLE AT A SPECIAL COMBINED PRICE OF GBP77.88. PLEASE CONTACT OUR CUSTOMER SERVICES ON +44 (0)20 7665 2464 OR AT ORDERS@THOMASTELFORD.COM TO ORDER.