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Chapter II. Theory > Where and When to Use Value Management

Where and When to Use Value Management

Every time a new product or project is being planned, or an existing product or project needs improvement, the application of value management should be considered. More specifically, when a product does not sell or generates complaints from customers, or when new markets need to be explored, value management is profitable. When a project is not evolving according to plan, or when one of the project parameters or objectives is not achieved, value management techniques are applied to bring it back on track.

Ideally, value management should be implemented in the very early stages of a project when a commitment has not yet been made. This enables value to be used to its greatest potential: to clearly identify the expected performance and functions of the product/project. If this is not possible, it is still feasible to use value management very effectively at any stage of the planning or development phases of a project.


  

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