VALUE

When assessing value objectively we are looking for actions that are needed to do something different that will get a measurable result that delivers improved quality at a lower cost. When assessing value subjectively, we are also looking to check out the assumptions, interpretations, habits, distinctions and beliefs that are limiting the ability to see that different actions can generate better results.

Value is created when performance is improved at a lower cost, or when the cost of producing better performance is acceptable.

• Lack of and/or poor coordination of action
• Failure to network or get consensus from colleagues/customers
• Not allowing enough time or resources
• When cost of changing exceeds potential savings over time
• Failure to use latest technology to optimise time/money
• Decisions based on habitual thinking, incorrect assumptions or mistaken beliefs
• Negative attitudes
• Not determining customer/client needs and wants
• Getting at the facts and evaluate functions (how-why test)
• Prepare a FAST diagram and allocate time and cost to value adding functions
• How else could the primary functions be achieved to get at possibilities before considering practicalities – elimnate and simplify – creative brainstorming
• Value engineer the alternatives and associated costs
• Use enthusiasm and diagrams to make your case – keep it simple
• Anticipate road blocks and understand their point of view
• Nerwork with stakeholders to gain support