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VALUE MANAGEMENT REDEFINED CONFERENCE: 11 OCTOBER 2017

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This News Article was posted on : 24 December 2017

On 11 October 2017 the IVM lead a Conference on Value Management, hosted and co-delivered at Turner & Townsend* offices, St Pauls, London. The conference focussed on Value Management and whether it is the overarching umbrella, with related disciplines such as Lean, Benefits Management and example case studies being presented and discussed.

The conference aimed to ask 4 main questions:

Is there a need to redefine Value Management?
How does your organisation manage value?
Do you focus on improving Value or Value for Money?
Which discipline does your organisation favour?

¬ Benefits Management
¬ Lean
¬ Value Engineering
¬ Benchmarking

value management redefined

Four industry experts lead the presentations as follows:

¬ Value Management – Julie Warriner on the essentials of Value Management and how it teams with risk

¬ Lean Thinking – Richard Daley on operational excellence and how Lean creates Value

¬ Benefits Management – Steve Parker on the critical relationship between Benefits and Value

¬ Working Smarter (Run 2 Value) – John Robson on how Northumbrian Water applies programmes of holistic Value improving initiatives

In addition time was available for networking at the end of the conference to explore synergies further.

The speakers all felt that Value (whatever its form) was that these different approaches for managing Value have similar goals. Optimising Value is a huge plus for organisations and individuals alike. Using complementing and overlapping approaches and methodologies can only harness and progress Value creation.

maximising value

The conference was extremely well attended with approximately 60 delegates attending from a range of organisations including:
Northern Ireland Water, Zurich, Royal Free Hospital, Network Rail, High Speed 2, Northumbrian Water, Turner & Townsend, Thames Tideway, HMRC, Highways England, London Borough of Hackney, Transport for London, Loughborough University, AM Skills, Equib etc.
Some excellent feedback was received together with requests for further events being made, with a summary below:

¬ The means of achieving the outcome will encompass elements of all of the approaches.
¬ Lean and Value Management should have the final outcome / benefit in mind.
¬ Good event – great opportunity to learn from other sectors.
¬ Value Management – yes the core approach and structured intervention methodology has universal applicability.
¬ Northumbrian Water – the cultural and behavioural shift appears to be one of the main reasons for their success in applying Value.
¬ Lean appears very processed based – it can complement other activities at key times and can work with VM.
¬ A framework of structures measures and interventions to improve outcomes.
¬ Benefits Management – a key measure of whether VM or the team are effective.
¬ VM is a very rigorous and robust way to establish value in relation to cost.
¬ A lot of thought provoking subject matter.
¬ Excellent!

For the full slide pack please do download this through the link attached: https://ivm.org.uk/admin/resources/171010-ivm-event-slide-pack.pdf

The IVM is keen to continue this sharing of knowledge and learning and are looking for opportunities to do a follow on conference (possibly in the north of the country) in 2018. Any organisations wishing to host and co-deliver this please do contact me or our Secretary. chair@ivm.org.uk secretary@ivm.org.uk

Julie A Warriner
Chair – Institute of Value Management
22 December 2017

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