Table of Contents

Dedication

Table of Contents

Preface

Chapter I: History of Value Management

Theory and Techniques

Value Management Expansion

Establishing Value Analysis/Value Engineering

Certifications

Standards

Chapter II: Theory

Value

What is Value?

What is Good Value?

Types of Values

Value Management

Functions

What is a Function?

Types of Functions

The Team

Composition

Tasks and Responsibilities

The Job Plan

Why a Job Plan?

Examples of Job Plans

Objectives of Each Phase

Traditional VE Job Plan

Where and When to Use Value Management

Chapter III: The Management of Value

Preparation

Identification of the Need

Customer-Oriented Value

The Value Management Team

Creativity

Data Gathering

Cost Techniques

Modeling

Sensemaking

Definition Phase

Function Analysis Phase

Ideation

In Search of the Solution

Creative Thinking Applications in Value Management

Validation/Elaboration

Validation/Elaboration

Classifying and Estimating Proposals

Recommendation and Decision

Recommendations You Can’t Refuse

Types of Presentations

Mastering

Follow Up of Implementation

Chapter IV: Value Management as an OPM Governance Process

The Business Context of VM

Strategic Value Management

Focus on Results

Case Study: Situation

Sensemaking Phase

Step 1: Stakeholder Analysis

Case Study: Stakeholder Map

Case Study: Stakeholder Influence Matrix

Step 2: Functional (Benefits) Analysis

Case Study: Interactors’ Analysis

Case Study: Needs Identification

Step 3: Identification of Critical Success Factors (CSF)

Case Study: Benefits Breakdown Structure

Case Study: Prioritization of CSFs using Paired Comparison

Step 4: Characterization of Critical Success Factors

Ideation

Case Study: Ideation Results for Top Three CSFs

Elaboration

Case Study: Elaboration of Options

Case Study: Weighted Matrix Evaluation of Options

Case Study: Weighted Matrix Analysis

Decision

Using VM to develop the Business Case

Case Study: Business Case

Mastery and Benefits Delivery

Integrated VM

Value Associations

References

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