In the past decade, value management (VM) has become an established practice using widely known techniques and practices. VM is also exposed to demand of time and resources. Nevertheless, the actions/methods of this approach are linked to informal approaches in developing countries. However, previous research has suggested that many VM activities and elements for delivering VM in construction projects. This research aims to verify these activities through qualitative thematic analysis approach. The thematic analysis confirms the necessity of the VM activities identified in the previous research for managing construction investment and provides directions for construction organisations to improve VM adoption. The study also revealed five (5) phases of value management activities/methods for the Egyptian construction industry, including information, function, innovation, evaluation and development and presentation phases. The findings will support and improve the implementation of VM applications in Egypt's Therefore, the results reflect the need to adopt the method in line with the formal VM approach in Egypt and other developing countries. © 2021, The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd.