Value Management

Any organisation wants to do things right but must first make sure it does the right things.

An organisation will not be able to afford to implement all its ideas - some will not even work; it must respond fast to identify what will and will not realise value, cancel, re-scope and push forward with new ideas.

Are your projects truly aligned to your strategy, customer value proposition and target operating model?

Are your board members in unified agreement with the change agenda?

Do you have quality estimate and business case at the outset of each project?

Have you succeeded in getting people to sign up to benefit realisation?

Value Management is used to create a balanced and blended portfolio of economically viable projects to which a culture of strong financial governance and benefits realisation are applied.

Organisations managing value can cut discretionary spend by more than 30%.

Benefits

Ideas are quickly evaluated without wasting time and resources

All change is benefit driven

• Common evaluation of ideas ensures fair comparison of value
• Accountabilities are clear and people know what they have to do to succeed
• Empowered benefit owners realise and report benefits from projects

Unnecessary change and waste is cut out

• All new ideas are targeted at the company strategy and business plan
• Current projects not demonstrating value or strategic fit are cancelled or re-scoped
• Duplication and overlap are avoided

What does it do?

It ensures that discretionary spend is used on business initiatives that will deliver the benefits needed by the business.

Ideas are selected to create a blended and balanced portfolio of projects that meet the organisation's strategic imperatives and investment criteria

Financial and non-financial benefits are made the primary focus of every idea

Benefits are validated before committing significant expenditure

Insight is created across the whole portfolio to bring transparency.

How does it work?

Value Management is used to control the 'should we' aspect of demand and works with Resource Management to provide a clear line of sight to the 'could we' aspects of supply. The essential bond is maintained through a common database.

An intuitive tool is used to gather all necessary information and quickly establish the strategic fit, complexity profile, business risk and potential benefits of each new idea, to form a simple business case.

A series of graphic representations enable comparison and analysis of all ideas from internal, external and financial perspectives.

The business case and estimate are revisited throughout planning. Progress is reported and slippage managed until benefits are realised.

Click here to learn more about the relationship between Portfolio Management, Benefit Management and Change Governance.

What we do

We work with your team to customise the terminology, tools and processes to the specific needs of your organisation.

There is no complex software to consider - easy to use MS Office tools and charts provide project portfolio-wide visibility and control.

We train your team so that the system becomes an integral part of your business planning, maintained under your own control.

Please contact us at Verdandi to obtain further information.

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