Management of Value
The concept of value is based on the relationship between satisfyling needs and expectations and the resources
required to achieve them.
"The aim of Value Management is to reconcile all stakeholders' views and to achieve the best balance
between satsified needs and resources."
Institute of Value Management
When executing projects, the key objective is to ensure the desired outputs/deliverables result in the realization
of expected benefits. For programs, the outputs/deliverables from the constituent projects collectively must
achieve the strategic outcomes targeted. At the Portfolio level, it is essential that the orgnizations can express
its priorities in terms of what will add most value to the organization in pursuit of its strategic imperatives.
Programs and projects can then be designed and aligned to deliver these priorities.
Value Management is the set of principles, processes and techniques used to deliver best value for owners and
end users alike. It is focused on ensuring that effort (Portfolio, Program, Projects and Lean) manifests itself in results
that meet a need while taking account of/reconciling different stakeholder priorities, needs, organizational priorities
and optimal use of resources available.
To find out more about the techniques and other elements of Value Management you may wish to visit: https://ivm.org.uk/techniques
Value Stream Mapping
Business/Value Case Development
Capability, Feature Modelling
Function Analysis, Workflow Design
Business Process Re-Engineering
Metrics & Value Indexing