explain the role of value buiding
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It aims to achieve best value for a project or process by defining those functions required to achieve the value objectives and delivering those functions at least cost (whole-life cost or resource use), consistent with the required quality and performance' (Hamersley 2002).
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Value Management (VM) and Value Engineering (VE) are techniques concerned with defining, maximising and achieving 'value for money' (VfM). These are systematic team-based collaborative approaches, initially pioneered in the United States during the Second World War to secure maximum output from limited resources.
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