Identifying Project Value Interests: A Binary Logit Model

Identifying ways in which projects add value to owner organizations is an important part of project development and delivery. In addition to standard functional and delivery requirements there are a number of other value-adding attributes that are sometimes dicult to communicate or may not be fully evident to the owner organization. These value adding attributes, or value interests, can be dicult to identify, define, and communicate because too often they are misunderstood, overshadowed by budget or schedule, or too broadly defined for implementation. To address this issue, the Construction Industry Institute in the United States commissioned the development of a method to identify owner value interests, facilitate their communication between stakeholders, and identify engineering and construction response strategies. This paper presents a binary logit regression model for identifying initial value interests based on project characteristics. The model was developed using survey data and tested to ensure that it provides results that are logical and comparable to recommendations made by survey participants.