What kind of value does a public building for cultural activities create for clients, construction professionals and users? One approach to understand the complexity of ongoing processes over time is by identifying value-adding activities in building processes. However, value added activities are difficult to analyse especially when related to resources that have an immaterial character, e.g. knowledge, know how and social relations. Based on an indepth case study of stakeholders' evaluation of a construction project, grounded theory methodology (GTM) and rich picture diagrams (RPD) were used in analysing stakeholder and end-user value. Data was collected by semi-structured interviews with actors, public client, project manager, architect, contractor, employee and visitors of the building and during a workshop with representatives for different stakeholder groups. The results from the analysis show that building a house of culture creates stakeholders' and end-users' value that can be categorised into human, organisational and social capital. The strength of combining GTM and RPD is demonstrated in its ability to study complex organisational structures and relations between different actors, and specific as shown in this case, when analysing value creation in a construction project with many stakeholders with different interests and value.