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A strategy map is a diagram that is used to document the primary strategic goals being pursued by an organization. A strategy map is often used as part of a Balanced Scorecard. This presentation will demonstrate how value analysis and in particular function diagramming can be used to develop a balanced scorecard and in prioritization of resources.  The use of function diagraming establishes the how and why behind the strategy map. By using elements of the VA job plan, your team can agree upon, develop and prioritize your strategies and tactics.

Activity Based Costing is a powerful tool that focuses on the management of activities as a route to improve both performance and the value received by customers. Value Analysis is a technique that helps identify and clarify user needs and develop alternative ways to meet those needs. It is the use of Function Analysis that makes Value Analysis unique from other problem solving techniques. Combining Activity Based Costing with Function Analysis significantly improves the chances of a successful outcome with ABC.

In today’s rapidly changing, complex, and global environment, the ability to create value through innovative products and services, faster and more profitably than competitors is a matter of survival and sustained success. That goal and objective of sustainable value creation and retention can be achieved only by implementing simultaneously  Value Engineering, Lean and Six Sigma methodologies that share common scientific methodology based Structure.

So what exactly should go on a risk register. Typically time is limited for identification of risks and more importantly time is even more limited in the future for reviewing and managing the risks.  Once a risk gets on the risk register it should be reviewed, and in particular on a public project, any subsequent change in the wording, change to the impact or change to the likelihood all could have serious ramifications if it gets in the public domain.  So it’s important to be conscious from the outset that the risk register should naturally capture the important issues but not perhaps be so comprehensive as to create a “rod” for the projects back for ever more that the project staff cannot maintain. 

What requirements are needed for software affecting a broad spectrum of users across an organization? How do you keep most of the users happy most of the time and spend the budget on the most beneficial functionality? How do you educate users on the trade-offs that may need to be made to meet varying needs? How do you make an IT project successful?  How do you select what on-going enhancements should be made to the software.  Value analysis was used to help answer these questions for two software solutions with different business histories and challenges. This presentation will discuss how value analysis and it’s principles assisted in the development of the RFPs, lead toward successful IT solution implementation and supports decisions for on-going maintenance of the IT solution.

VE has been used plenty to develop and improve products, to improve infrastructures and construction projects, as well as to optimize business processes. But the industrial processes can also benefit from the VE advantage: why are these steps necessary? How are they achieved? What else can be done?... A short presentation will explain how to use the methodology in such a context of the Mining industry and transformation industry. A typical functional diagram will be presented. Then, a few heavy industry processes will be presented with before and after situations.

It is generally recognized that managing a project ought to be conducted by a series of well-­‐established and defined processes. Despite application of project management systems, even with due consideration of managing risks, projects still go awry and value is lost. For example scope increases, cost overruns, schedule delays and general stakeholder dissatisfaction are indicative of lost value.

See also: Shishevan_Phillips_Integrated_VM_Greater_Performance_Gains.pdf

As we all know, Value Engineering and Value Analysis (VAVE) can be applied to products, processes, and services to improve the value to the purchaser, user, and/or the provider. This paper focuses on the development and production of products and equipment that are either sold to and used by customers (i.e. computer, digital camera, copier, etc.) or used within the context of a process or service provided to a customer (i.e. instrumentation, printing press, CNC machining center, etc.).

Lean has been around for a long time and has helped many organizations become more efficient in the way they conduct business.  This presentation seeks to introduce other Value Improvement Practices (VIP) that have been developed after Lean and how they also are supporting organizations to become more effective.  They will be briefly discussed and then compared to what I believe is the ultimate process to improve efficiency, performance, and cost which is the Value Methodology.  It has been around for over 60 years, but may not be as familiar to you as Lean, Six Sigma, Design for Manufacturing and Assembly, and TRIZ.  I have been trained and have used all of the above VIPs for most of my 43 years working in many global organizations such as General Motors, Valeo, TRW Automotive, and Whirlpool Corporation. Due to this experience, I will be able to make valid comparisons of these various tools to improve value, how they differ, and why I believe that the Value Methodology is the premier process to maximize efficiency.

 Value Engineering has long been established as a mature methodology for enhancing financial value of projects and processes worldwide and Jacobs has an impressive record of practicing Jacobs Value Plus (JVP) that has benefitted many of their clients.  Jacobs Sustainability Plus (JSP) has also shown great results in demonstrating their commitment to Corporate Social Responsibility, practiced through sustainable initiatives in all engineering work they undertake.  Sustainability is not just a ‘buzz’ word anymore and there is an increased awareness all over the world to see how major corporations are incorporating sustainability principles in their practices. However, there are some concerns and uncertainties that exist amongst the professional community regarding the practical application of Value principles to their ‘already tight’ projects. Many consider the process as just ‘cost-cutting’ or a scope reduction exercise. Integrated JVP/ JSP – ‘Value by Design’ as practiced in Jacobs helps close this communication gap by demonstrating the fact that a ‘Value Study’ is not just about reducing life cycle financial costs of the project, but it is an integrated, holistic approach of improving social and environmental benefits as well. This is important for all initiatives and projects as whatever approaches are being pursued, they should reflect the strategic intent of the owner/client and the greater good of the society.

Increasingly, public and private organizations are challenged to address growing demands to deliver products and services while human resources remain constant or are reduced.  Value Analysis is a proven methodology to identify creative alternative solutions to products, projects, processes and organizations. This presentation describes the application of Value Analysis to enable organizations to understand their business and goals in terms of Functions and Business Needs, independent of existing processes, systems and organizations and to identify new and creative opportunities to best meet these challenges within the constraints of available resources.

Measuring and capturing results throughout business transformation is essential, but it’s not just about metrics and measurement. In KPMG’s experience, the achievement and sustainment of expenditure reductions and enterprise wide change is maximized when performance management is embedded in the transformation governance model. KPMG’s Value Management approach is designed to meet these critical requirements, leveraging global, collective insight (in the form of trends, value drivers, reference models, benchmarks, and leading practices) to accelerate and sustain business transformation.

Many organizations face a long list of projects ahead without an effective way to make decisions on which projects should receive resources. This study shows how detailed function analysis through the effective use of functional performance specification techniques in a workshop can be used to help a multi-divisional team work across business lines.  The study established a number of key performance indicators that could be used to prioritize expenditure and workload resource decisions.

The challenge of our time is: how can we protect the environment for future generations? Perhaps the most important recognition of “green thinking” is that mankind cannot be detached from its natural medium. Ecologically conscious thinking also marks a kind of paradigm change, while the spreading of environmental attitudes and keeping sustainability systematically in mind will put things in another dimension.

Sustainable thinking has become significant in business models. The business advantage closely linked to sustainability is green marketing, which in fact is a covert marketing solution. Businesses market their environmental protection activities such as enhancing non-polluting manufacturing processes or the reuse of materials.

The above-listed elements of sustainability are all based on different functions. The value analysis methodology helps systematically find the best value combination of new ideas and goals closely linked to sustainability. The lecture gives an insight to the use of function analysis in achieving green solutions. Value Engineering is one of the most powerful thinking techniques that can help us take care of the environment for future generations in a conscientious way.