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Although statistical data to support relocation and expansion decisions is more readily available than ever before, the best approach to successful projects remains a combination of science and judgment, which will always outperform a quick and dirty mathematical equation. This paper looks at how to develop such a methodology by keeping in perspective those factors critical to success, taking the time to correctly interpret the data available and including all of the players who must live with the outcome of the project.

The purpose of this paper is to introduce this special issue of Management Decision and discuss the key question “Should sport be taken seriously?”.

The themes of the special issue are discussed and each paper is introduced.

Sport should be taken seriously because it has a significance beyond the field of play. It has become a commodified activity which creates and consumes wealth and can be used as a context for management research.

Rarely before has sport been taken seriously in a management research context. This guest editorial and the special issue that follows it begin that debate.

This paper aims to provide organizations with a new tool to make decisions related to a facility (building) selection process. Traditionally, value engineering (VE) applies the Value = Function/Cost formula to evaluate the worth of a product. In this paper, the VE-based facility-selection approach is proposed, where the cost of a facility is expressed in net present value (NPV) as it contains the net expense of purchasing or leasing a building as well as the time value of money. Also, a method of quantifying functions and involved risks of different facility choices is proposed.

The framework of the VE-based facility-selection process is broken down into three steps: preparation, calculation/analysis and assessment. In the latter part of this paper, the authors share a sample analysis by illustrating the analysis and decision-making process when three hypothetical facility-selection options are available.

The sample analysis indicates that companies can get the lowest cost and risk while improving their functions to achieve the highest value by using the modified VE formula to drive an optimal option for company’s business expansion and facility-selection process.

This paper provides organizations with a strategic system and process to select proper facilities or buildings for business expansion. The VE approach suggested in this study can allow facility/real estate portfolio decision-makers to analyze financial and functional aspects of the facility at the same time and obtain the value coefficient when they choose a new facility from different options. Finally, they can select the best option, which has the highest value coefficient, given financial and functional considerations.