In Pursuit of Value on Large Public Projects Using “Spatially Related Value-metrics” and “Virtually Integrated Precinct Information Modeling”

Publication Type:
Journal Article
Citation:
Procedia - Social and Behavioral Sciences, 2014, 119 pp. 124 - 133
Issue Date:
2014-03
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The paper argues that large, public and precinct scale government building projects present a difficult proposition in dealing with the full spectrum of value issues that confront such projects. A new approach is proposed, namely spatially related value- metrics and its core means of implementation being Virtually Integrated Precinct Information Model. The approach aims to synthesize BIM, GIS and GPS technology. The technology serves to track, map and analyze human usage of the built environment spaces, thus measuring the demand that a given precinct generates. The usage data can then be related to more traditional measures of value including the likes of building costs, gross lettable area, rental returns and so on. The research methodology utilizes a critique of the literature that expands on the above issues by identifying common perspectives of value within the built environment and the ensuing gap in dealing with value from an end user and human activity perspective. A case study precinct project is used to identify the relevance and potential benefits of the proposed approach. Findings identify how a greater emphasis on linking objective value with subjectively perceived value could serve to improve synergy among stakeholder objectives. The contribution to knowledge of this work is a new way of looking at value from an outcomes perspective which is particularly relevant on large and public, precinct scale developments where the client's objectives include significant commitment to societal, vibrancy and human activity outcomes.
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