The concept of Value is based on the relationship between satisfying needs and expectations and the resources required to achieve them. The aim of Value Management is to reconcile all stakeholders’ views and to achieve the best balance between satisfied needs and resources
Value Management is concerned with improving and sustaining a desirable balance between the wants and needs of stakeholders and the resources needed to satisfy them. Stakeholder value judgements vary, and VM reconciles differing priorities to deliver best value for all stakeholders.
VM is based on principles of defining and adding measurable value, focusing on objectives before solutions, and concentrating on function to enhance innovation. It uniquely combines within an integrated framework a value focused management style; a positive approach to individual and team motivation; an awareness of the organisational environment; and the effective use of proven methods and tools.