Value Optimization for Project and Performance Management

ROBERT B. STEWART,CVS, FSAVE, PMP, is President of Value Management Strategies, Inc., a consulting firm specializing in the application of value methodology to projects and business processes. He has led over 300 value studies for clients in private and public sectors and trained thousands of individuals worldwide in value optimization techniques. He is a Fellow of SAVE International and serves as a Director on the Lawrence Delos Miles Value Foundation, a nonprofit organization established to promote and fund the development of educational programs, new applications, and a research library for the study of Value Methodology (VM).

"... filled with practical facilitation and implementation tips." (Government Opportunities, May 2010)

• Preface ixAbout the Cover xiiiAcknowledgments xvCHAPTER 1 Introduction 1Today’s Challenges 2Value Methodology 4Why Use Value Methodology? 5Project Management and Value Methodology 7Value Methodology and Teamwork 8History of Value Methodology 10SAVE International 13Current VM Applications 14Summary 19CHAPTER 2 Value 21The Concept of Value 22Value Theory 24Reasons for Poor Value 36Summary 46CHAPTER 3 Value Methodology Job Plan 47The Value Methodology Job Plan 48Value Metrics 56Summary 58CHAPTER 4 Preparation 59Preparation Phase 60The Value Team 78Summary 79Appendix 4A: Case Study 80CHAPTER 5 Information 87Information Phase 88Gather and Analyze Project Scope Information 89Gather and Analyze Project Schedule Information 91Gather and Analyze Project Cost Information 94Life Cycle Costing 99Gather and Analyze Project Risk Information 108Conduct Value Study Kick-Off Meeting 111Conduct Site Visit 130Summary 130Appendix 5A: Case Study 131CHAPTER 6 Function 145Function Phase 146Defining Functions 146Classifying Functions 150Evaluating Functions 155Summary 179Appendix 6A: Case Study 180CHAPTER 7 Speculation 183Speculation Phase 184Creativity 184Roadblocks to Creativity 186Creativity Techniques 191Summary 196Appendix 7A: Case Study 198CHAPTER 8 Evaluation 199Evaluation Phase 200The Evaluation Process 200Evaluation Techniques 207Selecting Ideas for Development 211Summary 213Appendix 8A: Case Study 213CHAPTER 9 Development 217Development Phase 218Develop Value Alternatives 218Review Value Alternatives 232Summary 233Appendix 9A: Case Study 233CHAPTER 10 Presentation 247Presentation Phase 248Selling Change 248Assess Value—Value Metrics 251Conduct Exit Briefing 256Prepare and Submit Value Study Report 260Summary 260Appendix 10A: Case Study 261CHAPTER 11 Implementation 269Implementation Phase 270Managing Change 270Review and Assess Value Alternatives 273Resolve Value Alternatives 274Develop Implementation Plan 277Track and Audit Results 278Summary 278Appendix 11A: Case Study 279CHAPTER 12 Value Leadership 281Value Leadership 282Characteristics of Value Specialists 291Value Methodology Professionals 293Professional Standards of Conduct 295Summary 296Notes 299Suggested Reading 305About the Author 307Index 309