Value Search

Value Assurance​​​​​​​
As part of the overall value assurance process, program and project oversight is established.  This complements traditional project management systems through high level monitoring and reporting of progress.   

By being free of the daily issues and activities of the project management team, the assurance process can also provide insight into areas that may not have been fully considered.  Particularly for sensitive and complex undertakings, this reinforces the team’s efforts and ensures that progress is being made along the right track, thus contributing significantly to the confidence felt by stakeholders.
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Assurance for stakeholders is required such that their portfolios and programs and projects remain viable in terms of: 
  • Business aims (benefits, scope and costs)
  • User requirements (availability, serviceability) operability, reliability and compliance capabilities) 
  • Technical merit (feasibility and fitness-for-purpose)
  • Supply chain capabilities and compatibilities
  • Likelihood of meeting forecast targets.


A major challenge, particularly for large organizations, is in being able to demonstrate to shareholders and other stakeholders that best overall value is being provided.   So often, project development and / or implementation teams are unaware of the overall value expected from their undertakings.   For example:
  • Business goal-setting persons and their performance criteria are often absent during project development
  • Return on investment (R.O.I.) criteria are not clearly communicated and therefore not necessarily attained
  • Key knowledgeable people are lost to the next critical program or project
  • Information may not be passed on and many assumptions are then made by the next wave of program or project staff.​​​​​​​  
     
A well-communicated, strategic framework is necessary for deriving balanced solutions to complex and divisive issues, taking into account also financial, legal, political, regulatory, schedule, resource and technical implications.  
The Value Search process facilitates this.

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Our structured Value Search approach provides optimum guidance of business change initiatives, such as new systems to increase performance, and, complex endeavours that will bring about significant or rapid change
By maximizing team performance along with project functionality and profitability,Value Search also “closes the performance gap” that can be left by other management processes.   
It is a holistic process applied over the whole program life.  
It provides both a forward-looking management framework and an on-going auditable trail of the basis of key decisions and changes.
  

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Value Search, as a value assurance technique can also be used to benchmark and to certify formally (for funding purposes) that best value is being provided.   Also, risk (which may be present across the entire enterprise or within individual programs, projects and integrated supply chains) is managed at the appropriate comfort level for the organization, along with key stakeholder issues.
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Best value is often inadequately articulated and hence may appear somewhat elusive.   For any portfolio, it is important that the following aspects are addressed in deciding which programs and projects should be allocated resources:
  • Focus on strategically important outcomes
  • Alignment of plans to business priorities and goals
  • Robust management of program and projects for delivery of the expected value
  • Adequate staffing, both in number and through training.
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Best value is often inadequately articulated and hence may appear somewhat elusive.   For any portfolio, it is important that the following aspects are addressed in deciding which programs and projects should be allocated resources:
  • Focus on strategically important outcomes
  • Alignment of plans to business priorities and goals
  • Robust management of program and projects for delivery of the expected value
  • Adequate staffing, both in number and through training.

Value Search drives conceptualizing, development and implementation of effective programs and projects, particularly by identifying and closing the performance/value gap and streamlining execution and reporting procedures.   
   
The essence of the Value Search approach is to establish comprehensive value parameters, periodically measure aspects of the program against these parameters and then maintain or improve performance accordingly, throughout the entire life cycle.   
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Examples of the Value Search toolset & outcomes include:
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  • Strategic diagnosis and performance review
  • Strategic performance alignment
  • Risk assessment and mitigation aspects
  • Readiness assessment to proceed to next stage 
  • Lifecycle cost and functionality improvement
  • Performance diagnostic and value index
  • Alliancing and innovation workshops
  • Smart templates and information “roll-ups”
  • Change management plan
  • Enabling of key approvals & stakeholder endorsements
  • Updated value file and auditable trail as the basis of key decisions and changes; certification of best value.
  • Performance assurance protocol for ensuring on time, quality outcomes within budgetary allocation
  • Project oversight and turnaround mechanism
  • Executive style reporting linked to key measurement parameters at various management levels.
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Value Search reports provide the means to communicate regularly to executive management and stakeholders that portfolios, programs and projects will realistically: 
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     a. yield best value and return-on-investment, and, 
     b. be delivered within the specified timeframe & allocated budget
     c. be adjusted, as necessary, to suit changing conditions.

We have developed a suite of smart templates to conduct the Value Search diagnostic and reporting process.
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Project Oversight Across the Entire Life Cycle

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