Value Management: Translating Aspirations into Performance


DAVIES PPC(250x172)PATHBook Title:  Value Management: Translating Aspirations into Performance

Author:  Roger H. Davies and Adam J. Davies

Publisher:  Gower Publishing Limited

List Price:   US$

Format:  Hard Cover; 261 pages

Publication Date:   2011

ISBN: 9781409409557

Reviewer:      Diane Williams Roberts

Review Date:              November, 2012

Introduction to the Book

Value Management provides an interesting view of the management of change primarily within public organizations. The book highlights several case studies of program within the U.K. where value management technique either could be or have been applied.

Value Management first looks to define the problem with most programs. Defining and creating value for stakeholders is key to identifying the change required to ensure that both strategic and tactical objectives are realized. The authors create a compelling argument that equating project success to budget spend, wishful thinking and big bang implementations do not align with stakeholder value.

The book then looks at 6 principles defined by the authors to align objectives with stakeholder values. These principles are intended value, modeling value, programming value, aligning value, valuing certainty and tracking value.  The uses of various statistical, neuro-linguistic and causal tools are detailed to provide program managers with strategy maps that can link objectives with a Balanced Scorecard performance management approach.

Value Management finishes up with the JANET (UK) Transformation Program case study. This study shows the change made within a program from start to finish using the 6 principles, strategy maps and Balanced Scorecards to meet the creation of value for stakeholders.

Overview of Book’s Structure

The book is divided into 3 sections – Problem, Principles and Process.

The Problem with programs is outlined in the first section. This section uses a large number of charts, diagrams and process flow maps to move the reader from realizing the need to define value with stakeholders to understanding how using measurements such as net present value and internal rate of return can align both tactical and strategic objectives.

The second section details each of the 6 principles that the authors predicate should be used to create value for a program. Case studies, statistical models and Balanced Scorecard examples are developed to provide the reader with a roadmap to implementing each of the principles.

The last section evaluates how executives with the struggling JANET (UK) research and education network realized the need for change within their organization. Pressure to reduce the cost of services as well as public desire to move to customers paying for specific value-added services, moved the CEO Tim Marshall to work with his board and staff to achieve this change though the development of a dynamics model using Balanced Scorecards.


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About the Reviewer

diane-williams-robertsflag-usaDiane Williams-Roberts

Diane Roberts is serving as an IT Project Delivery Manager for Essilor of America. Essilor of America is the North American headquarters, for Essilor International. Essilor is the world healthcare device leader in providing corrective lenses to individuals in over 100 countries. Diane Roberts has more than 20 years of experience in management and information technology positions within the research and telecommunications industries.

Diane Roberts directs Delivery activities involving Information Technology for the corporation, which encompasses the identification, analysis, design, build, implementation and support of various applications in support of Essilor’s business needs. Diane Roberts directs IT project and program manager activities that are in support of Essilor’s Enterprise systems including but, not limited to Back Office (ERP) and Warehouse Management systems.

Diane Roberts has staffed organizations, created performance and incentive plans, managed the relationships between IT Delivery and various business organizations including but, not limited to Supply Chain, Finance, Human Resources and Engineering.  She has controlled budgets of up to $50 million and her use of resources and sound Software Development Lifecycle methodology have aided key business users in many organizations to achieve outstanding performance through leveraging technology.

Email Address: [email protected]

Editor’s note:  This book review was the result of cooperation between the publisher, PM World Inc and the Dallas Chapter of the Project Management Institute (www.pmidallas.org). Publishers provide books to PM World, books are delivered to the PMI Dallas Chapter where they are given to chapter members who commit to providing a book review in a standard format; the reviews are published in the PM World Journal and PM World Library.  Since PMI Dallas Chapter members are generally mid-career professionals, they represent the intended audience for most PM books.  If you are an author or publisher of a book related to program or project management, and would like the book reviewed through this program, please contact [email protected].