Gain Value Management Rewards

 

The two most critical factors are management commitment and a competent value practitioner to ensure that a relevant approach is consistently applied.

 

The European Value Management standard describes strategic and planning frameworks to realise the benefits. A competent value practitioner can support their application at a strategic, programme or operational level can to achieve organisational needs, making the best uses of internal capabilities both in teams and individually.

 

Within a normal value creation process VM will generally address...

• Defining problem context
• Developing and structuring objectives with multiple stakeholders
• Establishing targets, trade-offs and SMART objectives
• Establishing a value proposition
• Creating a value based measurement framework
• Developing briefs and specifications
• Designing, developing and reviewing options
• Concept, detail design and stage gate reviews
• Assessing outputs and outcomes
• Individual and organisational learning

Benefits of The Institute of Value Management

 

VM can be applied incrementally, delivering returns on investment of between 20 -40 times the cost, plus significant soft benefits with low risk.

 

VM generally delivers...

• Value improvements in excess of 20%; including savings between 10 - 25%
• Tangible returns on investment between 20 and 40 times the resource commitment are not untypical
• Significant benefits in terms of improved working relationships and organisational learning.

Specifically...

• Recognisably better decisions based on relevant and balanced information
• Improved performance of products and services that better reflect stakeholder needs
• Increased efficiency through team based activity with a common focus
• Enhanced competitiveness by facilitating and realising latent creativity
• A common value culture, with shared understanding of the organisations goals and associated success factors
• Organisational learning, and improved capability to embed change.

• Membership Benefits