Value Management and Management of Value

Order Description VM and the Management of Value The existin" rel="nofollow">ing British and European Standard for VM (BS EN 12973:2000) defin" rel="nofollow">ines Value Management (VM) as a style of management particularly dedicated to motivate people, develop skills & promote synergies & in" rel="nofollow">innovation to maximise overall performance of an organisation. However, value is rarely delivered by one organisation in" rel="nofollow">in isolation. In the past disproportionate benefits may have been gain" rel="nofollow">ined by a specific lead / in" rel="nofollow">integratin" rel="nofollow">ing organisation, rather than benefit sharin" rel="nofollow">ing across the project or alliancin" rel="nofollow">ing team. For example, in" rel="nofollow">in traditional pre-tender procurement, the client may identify and benefit from potential savin" rel="nofollow">ings, while a contractor workin" rel="nofollow">ing on a post tender fixed price contract may be focused on realisin" rel="nofollow">ing savin" rel="nofollow">ings for themselves. Influential clients and in" rel="nofollow">institutions believe that early engagement of specialist supply chain" rel="nofollow">in partners through alliancin" rel="nofollow">ing is critical in" rel="nofollow">in deliverin" rel="nofollow">ing value for all parties. Although, little is known about how VM should be effectively structured to align commercial in" rel="nofollow">incentives for deliverin" rel="nofollow">ing long term value outcomes ahead of lowest cost. Make recommendations on how VM should be advanced to early engage the specialist supply chain" rel="nofollow">in. You may like to answer one (or more) of the followin" rel="nofollow">ing questions, or develop your own. • Who stands to benefit from early specialist supplier engagement in" rel="nofollow">in VM/VE and what are the triggers for its use? • How could specific early value-enhancin" rel="nofollow">ing relationships occur between the contractor and supply chain" rel="nofollow">in, or between the client and its specialist supplier alliance? • What is the role of a client in" rel="nofollow">in facilitatin" rel="nofollow">ing VM/VE and how do they promote opportunities for value through early supplier engagement? • How do the prin" rel="nofollow">inciples of VM/VE get realised through other means of early engagement (e.g. Technical Queries or Design)? • What are the policies and learnin" rel="nofollow">ing mechanisms that are needed to support early specialist supplier VM/VE delivery? • How can a specific approach such as “SMART” or MoV be applied to enhance the early engagement of specialist suppliers? • How can a commercially aligned value culture be created early to in" rel="nofollow">integrate the client, contractor and supplier partners in" rel="nofollow">in a high performin" rel="nofollow">ing alliance?