Value Management: Translating Aspirations Into Performance
Change programmes in both private and public sectors have a poor record of delivering their intended value. The reasons given most often for their failure include lack of executive support or buy-in from key users, loose requirements definition, weak programme management, and plain wishful thinking. They rarely include technical limitations. Value Management puts forward the view that the true problem lies in failing to understand the causal links between the intended stakeholder outcomes and the actual programme outputs. Repeating the pattern of failure can be avoided by asking two questions: - Before implementation, what capabilities must a change programme deliver, when and in what order so as to cause intended value against a defined purpose with speed and certainty? - During and after implementation, what minor adjustments and/or major shifts are needed to be certain that the programme remains on purpose and on value? and two answers to be given: - Target, time and align change programmes to deliver maximum intended value to stakeholders - the baseline business case - track and respond to changes during and beyond implementation to ensure that the programme actually delivers or exceeds intended value - value realisation. The authors show how, by asking and answering these questions, direction and delivery of any programme can be clarified and greater economic value achieved.
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achieved and-or apply Balanced Scorecard baseline business behaviour benefits business capabilities Business Intelligence call centre capacity cash ﬂows causal causal loop diagrams cause and effect Certainty change programmes Chapter complex create value deﬁned deﬁnition deliver value drivers and beneﬁts dynamic performance management dynamics modelling Earned Value Management effect map efﬁciency EftPos enable ensure Eurostar example ﬁnancial ﬁrst framework IMPACT implementation strategy inﬂuence inputs intended outcomes JANET UK linked measures mental models Net present value Neuro-Linguistic Programming operational organisation outputs perspective precise problem proﬁt programme costs programme deliverables programme management programme phases projects quantiﬁed quantify reﬂected relationships result revenue risk shown in Figure signiﬁcant solutions speciﬁc stakeholder outcomes star schemas strategy map structure system dynamics systems thinking targets themes tracking V-model value equation value for money Value Management value propositions value realisation whilst