“VQ” stands for Value Quotient and it’s important to agree on what is meant by value as it relates to this discussion. The Oxford English Dictionary defines value as simply, “The regard that something is held to deserve; or the importance, worth, or usefulness of something.”
There are two reasons the authors of this career guide chose the title What is your Construction Management VQ (Value Quotient)? It completes a trilogy, complementing two other publications; What is your Construction Management IQ? and What is your Construction Management EQ? Also, and most importantly, a career guide implies a focus on an early career, however, this document is intended as a guide to benefit a professional CM at any career phase since value is timeless.
It’s appropriate for us to understand the concept of value as it relates to Construction Management (CM) for Construction Managers (CMs). In fact, the fundamental idea behind the creation and growth of the CM industry was that an independent entity could add value to the design and construction process. As CMs, we don’t design or necessarily build anything, but by representing the interests of the owner, we add value to the ownership, design, and construction of a project. Day in and day out, as CMs, we strive to bring real value to our clients. Value permeates every aspect of our working practice.