Construction projects succeed when they fulfill stakeholder expectations efficiently and economically.

1. Stakeholder Identification

Stakeholders include:

• Owner / Client
• Architects & Engineers
• Contractors & Subcontractors
• End-Users (operators, community, government)
• Regulatory bodies and funding agencies

Each has different priorities — cost, quality, schedule, compliance, or safety.

A project manager’s task is to balance these needs through communication and negotiation.

2. Stakeholder Analysis

• Identify influence and interest levels.
• Develop engagement strategies: inform, consult, collaborate, or manage closely.
• Maintain transparency to build trust throughout the project lifecycle.

3. Value Engineering (VE)

A systematic process to improve value = function/cost.

VE aims to achieve the same or better function at a lower cost without compromising quality.

Examples of VE Applications:

• Using precast concrete instead of cast-in-situ to reduce labor and time.
• Substituting locally available materials with equivalent performance.
• Re-engineering mechanical systems for lower energy consumption.

Steps in Value Engineering:

1. Information Phase – Collect data and define functions.
2. Analysis Phase – Identify high-cost/low-value areas.
3. Creativity Phase – Brainstorm alternative solutions.
4. Evaluation Phase – Compare life-cycle cost and benefits.
5. Implementation Phase – Integrate approved alternatives into design.