Conceptualising value for construction: experience from social housing projects in Chile

Through the years, the concept of Value has been widely discussed covering diverse fields of knowledge, such as marketing, business management, strategy, engineering, design, and the like. Within the construction industry field, highly praised management approaches have been used to deliver Value such as Value Engineering, Value Management and Lean Thinking. As a result of the complex nature of this concept, different definitions, equations and models have been proposed to mainly deliver Value from a customer focused perspective. Therefore, the potential of the construction industry has been usually limited by the fulfilment of individual requirements. Thus, environmental and social issues have been generally managed from a bill payer perspective. During the course of this research, Chilean experience in Social Housing Projects was investigated. Initial author observation, analysis of governmental policies and data collected from three case studies allowed to evidence an emergent phenomenon in developing countries such as Chile and in the construction sector experience in general. This phenomenon considers Value as an oscillating concept, which means Value delivered by a particular construction project continuously impacts society in a wide sense, and provides a legacy for future generations. In the same way, Value delivered for particular projects affects in turn those judgments concerning future projects and contribute with the permanent improvement of the construction sector s performance (learning from experience). Consequently, the construction industry contributes to the development of society through the alleviation of environmental & society issues such as drug consumption, social risk, public safety and so forth. Along the time, the decisions and activities of the construction industry have influenced more than a reduced set of customers. Therefore, there is no reasoning against the fact that the human species depends on many sorts of building and infrastructure projects to perform their activities ...