This research has investigated the current situation of Value Management (VM) and Sustainable Construction (SC) in the Indian construction industry with respect to various aspects such as client’s attitude towards the subject, barriers posed to implementation, its application in the construction industry, identification of gaps and overcoming the barriers and establishing the amount of knowledge of people about both the subjects, who work in the construction industry. It has also defined the principles of Sustainable Construction in three dimensions: environmental, economic and social.
The research findings have revealed that SC principles are not a major consideration in the Indian construction industry and many people who work in the Indian construction sector have little or no experience in sustainable development. On the contrary, VM has been in practice in the Indian construction industry for more than four decades and its application is mandatory in all governmental projects funded by Indian government. Hence, VM practitioners possess great experience, skills and knowledge. However, there are a number of barriers that could affect the VM performance in the Indian construction industry which are taken into account in this research.
Although Sustainable construction is not an integral part of Value Management in the current construction industry, but areas like energy efficiency, minimisation of waste, ambient indoor environment, visual effects, low running cost, user comfort etc are the basic concerns for VM practitioners.
The characteristics of VM such as the role of VM participants, knowledge distribution opportunity, strategic time, effective process and effective tools and techniques, lend VM into considering issues related to sustainability. Therefore, the research has concluded that there could be substantial benefits from using VM as a road map for promoting and establishing SC principles, as well as improving awareness of it within the Indian construction industry. Additionally, the experience and skills of VM practitioners could be used to accelerate the understanding and implementation of SC principles in construction projects. As a result of this an "Integrated Approach to VM and SC" has been developed in this research. The integrated approach defines the sustainable terms, and establishes its essential elements, principles, drivers and benefits. The Integrated Approach to VM and SC is validated through a questionnaire survey and case studies. The research reveals that the developed integrated approach is comprehensive and has clear and detailed foundations underlying in its processes