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Visual Management (hereafter VM) has been evolving and effectively employed in manufacturing and service organizations for a long time. To facilitate a cross-industrial learning process and to advance in detailed research the understanding of how the VM concept may serve in an organization is necessary. The aim of this paper is to identify VM functions and the theoretical base for the construction industry. A detailed literature review and an analysis of the findings were performed accordingly. The necessity of a holistic approach in order to make more use of the Visual Management process and some research opportunities were identified.