Target Value Design: a Modern Approach for Effective Construction Cost Management

Target Value Design: a Modern Approach for Effective Construction Cost Management

Authors

  • Siranush Galstyan National University of Architecture and Construction of Armenia
  • Ara Hovhannisyan National University of Architecture and Construction of Armenia

DOI:

https://doi.org/10.54338/18294200-2025.3-06

Keywords:

cost control, TVD, construction, value management, integrated design, stakeholder collaboration

Abstract

The construction sector, as a strategic branch of the economy, often faces challenges related to budget control, time losses, and inefficient use of resources. To address these challenges, innovative approaches have emerged, including Lean Construction, whose key tool is Target Value Design (TVD). TVD offers a reverse design process aimed at developing solutions aligned with a predetermined budget, promoting collaboration among stakeholders and enabling more effective cost management. This article analyzes the practical application of the TVD method in construction projects, reviewing its main principles, implementation mechanisms, as well as advantages and existing limitations. Based on the research findings, recommendations are presented to enhance the effective application of the TVD method, which will contribute to improved financial management of construction projects, reduction of value loss, and increased investment attractiveness.

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Author Biographies

Siranush Galstyan, National University of Architecture and Construction of Armenia

(RA, Yerevan) - NUACA, Faculty of Management and Technology, Master of Management

Ara Hovhannisyan, National University of Architecture and Construction of Armenia

Ph.D. in Economics, Associate Professor (RA, Yerevan) - NUACA, Department of Economics, Law and Management

Published

2025-12-26

How to Cite

Galstyan, S., & Hovhannisyan, A. (2025). Target Value Design: a Modern Approach for Effective Construction Cost Management. Scientific Papers of National University of Architecture and Construction of Armenia, 93(3), 59–70. https://doi.org/10.54338/18294200-2025.3-06

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