Annual General Meeting of the IVM - Important please read

Value Management Standard EN12973 is being updated

This News Article was posted on : 18 August 2017

Public consultation on prEN12973 has now started!

Over 70 pages of guidance relevant for any organisation which aims to improve performance is published at The British Standards Institution public comment site -

Anyone can register and comment for free. You should give your views before 2nd October to help create a better value management standard.

The current standard EN12973:2000 is generally updated and is developed to emphasize value management within existing management systems and organizational culture. The new draft addresses the concepts of ‘value culture’ (attitude and awareness of value for the organisation), ‘value management’ (the underlying concept of the discipline), the ‘value management approach’ (the way the organization works to apply the principles and drivers (enablers) of value management), and deployment of ‘value management methods’ which include function analysis, function cost analysis, functional performance specification, value engineering, design to objectives and more.

The future standard should help any organisation (SME / large international / government / not for profit) improve performance. Guidance on function analysis and functional performance specification should also be particularly relevant for any organisation which must comply with public procurement regulations.

Have your say and comment on the BSI site or give you views at one of the IVM meetings being arranged.

IVM Branch coordinators and individual members should provoke further discussion!


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