Book Description

A Framework for Value Management Practice—Second Edition begins by providing readers with the background needed to understand the origins of this complex and rapidly evolving practice. The second chapter builds on this foundation, by helping readers understand how the deceptively simple concept of "value" is actually a complex interweaving of factors that include time, people, subject and circumstance. Dr. Thiry then walks the reader step by step through the complexities of different value methodologies.

Table of Contents

  1. Cover Page
  2. Title Page
  3. Copyright Page
  4. Dedication Page
  5. Table of Contents
  6. List of Figures
  7. Preface
  8. Chapter I: History of Value Management
    1. Theory and Techniques
    2. Value Management Expansion
    3. Establishing Value Analysis/Value Engineering
      1. Certifications
      2. Standards
  9. Chapter II: Theory
    1. Value
      1. What is Value?
      2. What is Good Value?
      3. Types of Values
    2. Value Management
    3. Functions
      1. What is a Function?
      2. Types of Functions
    4. The Team
      1. Composition
      2. Tasks and Responsibilities
    5. The Job Plan
      1. Why a Job Plan?
      2. Examples of Job Plans
      3. Objectives of Each Phase
      4. Traditional VE Job Plan
      5. Where and When to Use Value Management
  10. Chapter III: The Management of Value
    1. Preparation
      1. Identification of the Need
      2. Customer-Oriented Value
      3. The Value Management Team
      4. Creativity
      5. Data Gathering
      6. Cost Techniques
      7. Modeling
    2. Sensemaking
      1. Definition Phase
      2. Function Analysis Phase
    3. Ideation
      1. In Search of the Solution
      2. Creative Thinking Applications in Value Management
      3. Validation/Elaboration
    4. Validation/Elaboration
      1. Classifying and Estimating Proposals
    5. Recommendation and Decision
      1. Recommendations You Can’t Refuse
      2. Types of Presentations
    6. Mastering
      1. Follow Up of Implementation
  11. Chapter IV: Value Management as an OPM Governance Process
    1. The Business Context of VM
      1. Strategic Value Management
      2. Focus on Results
      3. Case Study: Situation
    2. Sensemaking Phase
      1. Step 1: Stakeholder Analysis
      2. Case Study: Stakeholder Map
      3. Case Study: Stakeholder Influence Matrix
      4. Step 2: Functional (Benefits) Analysis
      5. Case Study: Interactors’ Analysis
      6. Case Study: Needs Identification
      7. Step 3: Identification of Critical Success Factors (CSF)
      8. Case Study: Benefits Breakdown Structure
      9. Case Study: Prioritization of CSFs using Paired Comparison
      10. Step 4: Characterization of Critical Success Factors
    3. Ideation
      1. Case Study: Ideation Results for Top Three CSFs
    4. Elaboration
      1. Case Study: Elaboration of Options
      2. Case Study: Weighted Matrix Evaluation of Options
      3. Case Study: Weighted Matrix Analysis
    5. Decision
      1. Using VM to develop the Business Case
      2. Case Study: Business Case
    6. Mastery and Benefits Delivery
    7. Integrated VM
  12. Value Associations
  13. References