The construction industry is concerned with satisfying its customers’ needs through delivering projects that achieve their objectives and meet their expectations on time, within budget, and as specified. Despite the several housing programs constructed by government authorities, there is a real housing problem for the poor. This problem is attributed to a number of reasons. Amongst them, are the inability of the low-incomers to cover the cost of supplied houses and the lack of constructed projects to achieve users’ satisfaction. This highlighted the need to develop innovative and creative solutions that can deliver housing projects that achieve the satisfaction of their users in the most cost-effective manner simultaneously. This aim will be achieved by incorporating the concepts of Value Management (VM) and Risk Management (RM) in developing housing projects for the poor. Towards this aim, this paper attempts to accomplish three main objectives. Firstly, reviewing the historical development of housing projects, the concepts of customer satisfaction, VM and RM in construction. Secondly, identifying the capability of VM and RM and their benefits for developing housing projects for the poor.