VALUE
MANAGEMENT
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Value
management is a proven, creative technique designed to increase
the value of a project, product or organization by identifying and
eliminating unnecessary costs.
Identification
is acheived by analyzing the requirements of the project in order
to fulfill all the essential functions at the lowest total costs
(capital, staffing, energy, and maintenance) over the expected life
of the project.
In
simple terms, the Value Management Job Plan addresses six basic
questions concerning the project:
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- What is it?
- What does
it do?
- What does
it cost?
- What else
will do it?
- Will that
work?
- What will
that cost?
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Many
design consultants will state that they apply this philosophy continously
to all their projects, and, of course, most professionals atrive
to give their clients good value for money. However, unless the
principles and methods of the Job Plan are applied, they are not
practicing Value Management.
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It
is also possible for the project team to get too close to a project.
In providing answers to the six questions above, addressed to all
elements of a project, Value Management offers an independent and
entirely objective viewpoint, often addressing many issues which
have been excluded from the designer's brief, the resolution of
which brings susbtantial benefits to the project.
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PROMIS
VALUE MANAGEMENT SERVICE
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| PROMIS Value
Management service is designed to improve both short and long-term
value while retaining or enhancing quality, scope and performance.
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TIMING
- Value Management may be applied at any stage of a project's progress
but is more effective at early planning and design phases, e.g., program,
concept, and schematic design.
In essence, the service embraces three specific disciplines: |
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Value Analysis
- Applying Value Management techniques to improve an existing product,
process or organization.
Value Engineering
- Applying the same techniques during the design and implemntation
stages of a project or process.
Value Training
- Providing awareness tarining so clients can reap the full benefits
of Value Management. Also, assisting clients to implement their
own Value Management programs.
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