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 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.

Value
Management