Value Management Program
The Value Management process is one of the most powerful management tools available. It is a structured, analytical process which seeks to satisfy "customer" needs by ensuring that all necessary functions are provided at the lowest total cost, while maintaining the required levels of quality and performance - in other words, to maximise value. It has particular application where improvement of productivity, service or quality performance is vital and when time or resources are limited. At the core of the Value Management process are the two concepts of function (including its analysis) and value for money.
Function – and Analysis of Function
Analysis of function involves clearly identifying what things actually do or what they must do to achieve the clarified needs of the "customers".
Through the analysis of function, it is possible to identify genuine need, wastage, duplication etc., thus providing scope for value to be improved.
The Concept of Value
In Value Management the concept of value is a basic tenet. Best value is possible only when the required functions are achieved at the lowest cost. Value in the context of Value Management is the relationship between the satisfaction of needs and the resources required to achieve those needs
Our consultants have delivered substantial cost savings and improved customer satisfaction with companies worldwide in all industry sectors.
A Value Management program normally yields a saving of ten times the cost of the program.