The concept of Value Management evolved out
of Value Analysis and Value Engineering techniques developed in
manufacturing industries. It provides a way of solving problems,
addressing business needs, and making the most of opportunities
as they arise.
ACVM employs skilled personnel to bring together
those involved in a project to examine all issues related to the
task at hand. These include management, operational staff, professionals,
technicians and external service providers. A Value Management study
facilitated by ACVM will look at aspects of the project such as:
- Organisational change
- Strategic planning
- Team creation
- Strategy development and testing
- Systems design and implementation
- Project initiation
- Investment options & analysis
- Product development
- Policy & project evaluation
- Post-completion reviews.
The Value Management process uses a dynamic
team-based approach to address problems, and to build on the strengths,
knowledge and experience of project participants.
The ACVM Value Management Process
Prior to the workshop, a number of issues must
be addressed to ensure the best possible result is achieved.
- The objective of the study and the means
of achieving this objective need to be identified.
- All those who can contribute to the outcome
need to be invited.
- Relevant background material needs to be
collected and distributed to the participants.
- The participants need to be briefed so they
have the opportunity to consult their colleagues and are ready
to address the objective when they attend the workshop.
The format of the workshop is clearly structured:
- The ‘problem situation’ is defined. This
identifies the objectives and rationale of the workshop and establishes
the key issues and concerns. The first part of the process is
characterised by divergent thinking which identifies the component
parts of the problem.
- The next step is to analyse the needs, functions
& data and reach a common understanding among the participants.
A degree of creativity is required to do this. Value-improvement
or value-adding opportunities are sought.
- This work typically produces more than 100
suggestions, some practical, others less so. These are reviewed
and categorised by all the participants into realistic, remote
and unworkable ideas.
- The realistic proposals are developed further
by the sub-groups and worked up into potential proposals. Once
consensus is reached, an Action Plan is prepared to pursue the
outcomes of the workshop.