Value Management

 There are multiple phases involved in developing an effective Value Management Methodology for construction projects. The following stages involved in the methodology introduce a dynamic aspect to successfully manage value within a project. The stages of researching and producing an analysis of value for a construction project include: • Phase 1: Information • Phase 2: Function Analysis • Phase 3: Creative / Speculation Phase 2 and 3 need to be explained in detail with a total of 650 words. Also in regards to phase 2 the Function Analysis Systems Technique (FAST) needs to also be explained in detail.