Value Management

Value management is similar to return on investment, or ROI, with one major difference. It incorporates intangible data into the results in addition to the more conventional cost and schedule notion.

You should understand that it is sometimes difficult to measure the value of the intangibles; however, they still hold meaning and importance. One type of analysis called psychometrics bridges this measurement gap. Psychometrics is the practical application of quantifying intangibles, i.e., being able to incorporate intangible results into a tangible analysis.