Value Management Process
The value management process involves three phases: The first being the orientation and diagnostic phase, followed by the workshop phase and finally the implementation phase. This order is very specific and is maintained. 1. Orientation and Diagnostic Phase – involves the value managers and the value team preparing for the study. The value managers meet the commissioning clients, the project sponsors and the key stake holders involved in the study. They review documents and the possibilities of conducting interviews or briefings. The approach used includes:- (i) Understanding and structuring value problem in detail.
(ii) The exploration of possibilities of competing value problem (iii) The discussion of promising solutions and exploring the way forward on completion of workshop phase. (iv) Developing and agenda for the workshop phase. (v) Determining the methods and the manner in which the workshop is conducted and ascertained. (vi) Implementation of options and solutions develop from the workshop phase. 2. The Workshop Phase – It involves a forum where through way of consensus or agreement alternative and/or complementary stake holders and multi-disciplinary perspective on the value problem are brought together to explore and reach for a way forward.
A study report and an action plan are produced after the
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