Eras of value production in the built environment: Extracting principles from past practice

This paper reviews historical approaches to the consideration of value in the built environment. It identifies the central tenets of chronological eras of value consideration that highlight shifts in its understanding and articulation to synthesis a premise for the comprehensive consideration of value in any socially-complex, single-product project environment. The review identifies a shift in institutional logics framing the consideration of value, with early logics seeking value in product qualities, before evolving to consider value within the processes of product or organisational design. Current dominant logics seek value by synthesising mutual understanding of value within groups of people, while future logics are starting to adopt an intergenerational, protectionist perspective. This sequence of logics is characterised as: product, process, people, protection.