Purpose This study presents a systematic review of 70 peer-reviewed papers, analyzing VE applications, methodologies and emerging research directions in the construction sector. The purpose is to examine VE applications and research trends to provide valuable insights , innovations, needed to ensure VE continues to meet the current needs of the construction industry. Design/methodology/approach The research uses a mixed-methods systematic review approach, integrating quantitative and qualitative content analysis. Content analysis identifies key themes and patterns within the VE literature; bibliometric analysis is utilized to investigate publication trends, author networks and influential studies. Findings A growing interest in VE, particularly in building projects, is identified with case studies as the predominant research approach. Four key themes emerge: performance and impact, strategy, influencing factors and application status, though the latter two remain largely unexplored. Future research should focus on refining VE strategies, continuing its adoption across the diversity of projects in the construction sector, leveraging emerging technologies and integrating AI into VEW to maximize value in the construction. Practical implications As VE studies increasingly include objectives beyond cost reduction, such as quality, carbon emissions, social value and sustainability, assessing value becomes more complex. Particularly when certain factors, such as quality, are subjective based on the project clients' needs. Continued publication of case studies on novel and innovative VE applications will contribute to the collective knowledge of the evolving challenges in the construction industry. Originality/value The study shows the progression of VE in assessing cost and resource efficiency, functionality and sustainability while identifying research gaps related to implementation challenges and broader sectoral trends. It calls for the interdisciplinary integration of value and resource items, which stakeholders consider essential to project success, and further exploration of VE's expanding scope beyond cost reduction, particularly in areas such as sustainability and quality considerations.
Wei Tong Chen (Thu,) studied this question.