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INTRODUCTION

 

The Hong Kong Institute of Value Management (HKIVM) was formally established in 1995 and the Hong Kong Institute of Surveyors (HKIS) in 1984. Value Management (VM) as a philosophy, together with its associated tools and techniques, emphasizes the need to consider function and cost in a structured and systematic way, as part of any strategic decision process. Over the past 10 years, the HKIVM has hosted six international conferences, conducted a number of value training workshops, its members have conducted hundreds of highly successful VM studies for both public and private construction industry clients and regularly published the ‘Value Manager’ journal.

Since 1998, the Hong Kong Special Administrative Region Government (HKSARG) has further recognized the importance of expert VM facilitation to achieve ‘best value’ on major government construction projects and seeks advice from the HKIVM on compiling its own lists of accredited facilitators (all of whom are HKIVM members).

It is a long and never-ending journey to run, maintain and upgrade value standards both locally and globally and so far the effort has proved very successful in the Hong Kong construction sector. Now is the time for us to share our experiences and impart our valuable knowledge to other industries and sectors that can benefit from VM.

So come and join us in 2005 and celebrate our 10th anniversary and our VM success story so far, together with other value-minded clients, practitioners and academics from around the globe.