The application of VM has played a significant role in improving project outcomes in the Malaysian construction industry (MCI). Despite clear evidence of the benefits of VM, this discipline has significant setbacks in its application because of the theory–practice gap. Therefore, this study identifies the PM activities that can be integrated into the VM process. A qualitative method was employed, involving semi-structured interviews with eleven professionals and practitioners in the MCI, and provides evidence of the advantages of this integration, offering a framework for better implementation of VM in the construction industry. The results found similar objectives in the application of PM and VM to ensure the projects met the project performance by integrating PM activities into VM study and, at the same time, establishing the innovation of the concepts of VM. However, the findings are based on a relatively small sample size, which may limit the generalisability of the results to the broader Malaysian construction industry. Thus, future research should consider employing a mixed-methods approach, combining qualitative insights with quantitative data to validate and generalise the findings. Larger sample sizes and diverse participant groups from different regions and sectors of the construction industry would provide a more comprehensive understanding.