A Standardized Approach to Identifying and Defining Owner Value Interests and Aligning the E&C Respo

Owners have vast and diverse range of value interests for a project, not restricted to macro value interests such as cost, schedule, and quality alone. The interests should be identified and communicated on both on a macro and micro level internally and externally. Value interests (VI) are to characterize a project and not the owner. (RS266-1, p. 5)

Are features that affect, govern, or determine a value interest. Survey results and calibrated models confirm that there is a relationship between project characteristics and value interests; and each VI is driven by multiple project characteristics rather than by any single one. The research identified 11 project characteristics as strong drivers of project value interests. (RS266-1, p. 6)
 
Parameter estimates resulting from the study indicate the relationship between value interests and project characteristics. They can be used to understand how a specific VI is tied to the project characteristics and can be a tool to understand how variation in project characteristics affect a VI. For those interested, the statistical analysis supporting these relationships can be found in Appendix G of the research report.

Safety is always the key value interest and is the most important priority on any project. (RS266-1, p. 5)

E&Cs should consider multiple delivery models or focus points when responding to or addressing each owner VI in a project. (RS266-1, p. 11)

A comparison of owner and contractor survey responses showed that both place a similar level of importance on key value interests that characterize projects. (RS266-1, p. 14)