A Construction Management Conceptual Framework has been built which applies several innovative management theories, such as: Value Management, Constructability, Benchmarking, TQM, Supply Chain Management, Partnering and Alliancing, and Risk Analysis. The concepts have been brought together to construct a model for guiding a Project Manager at decision making issues. A common factor of these concepts is that they are all philosophies and as such, they require a change of structure and mentality. For this purpose, we adopted a systems thinking approach. First, it has been disclosed the Performance metrics of the industry. Secondly, we examined the methodology and applicability of each concept. We then related the functionalities between each other within the system, which in turn enabled us to create the Conceptual Framework. Empirical testing was of paramount importance in determining our findings and results. Finally, we drew up conclusions and recommendations for further research. By no means have we intended to create an inviolable prescription for Construction Management issues but rather a guide which Managers can use in conjunction with their own judgment and criteria.