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BS EN 12973:2020

BS EN 12973:2020

$215.11

Value Management

Published By Publication Date Number of Pages
BSI 2020 72
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This document aims to:

  1. guide and give ideas for leaders, managers, and teams to plan the deployment of Value Management approaches and the effective application of Value Management core / specific methods;

  2. help organizations improve performance, productivity, profitability and effectiveness;

  3. address Value Management at the managerial level;

  4. support people in strengthening value culture;

  5. give guidance for strengthening Value Management and Value Management methods at different levels within the organization;

  6. identify the conditions for effective Value Management;

  7. give guidance for value-based decision-making;

  8. stimulate and support innovation; and

  9. establish a basis for developing training and certifying procedures for individual competences in Value Management.

Figure 1 presents the envisaged organization of documents relative to the Value Management field and the standards available at the CEN level for all users of this document.

A system for certification of individual professional competence is maintained by the National Value Associations in Europe. The qualification ā€œProfessional in Value Managementā€ (PVM) is recognized across Europe by National Value Associations as an indicator of competence. This qualification is also recognized in other countries outside Europe.

PDF Catalog

PDF Pages PDF Title
2 undefined
11 1 Scope
12 2 Normative references
3 Terms and definitions
13 4 Value Management
4.1 Value Management approach
4.1.1 General guidance
17 4.1.2 Informal approach
4.1.3 Formal approach
18 4.1.4 Study-based approach
19 4.1.5 Communicating the Value Management approach
4.2 Principles
4.2.1 Strengthen Value orientation
20 4.2.2 Apply Function Thinking
4.2.3 Apply a Structured holistic approach
21 4.2.4 Manage complexity, risk and uncertainty
4.3 Drivers (levers) for Value Management
22 4.4 Guidance and requirements for successful Value Management
4.4.1 Involvement of customers, users and other stakeholders
23 4.4.2 Thought processes, behavior and benefits
4.4.3 Production of tangible results and benefits
4.4.4 Monitoring Value Management
4.5 Delivering sustainable solutions
24 4.6 Value assessment
5 Value Management at top management level
5.1 Value culture and strategy in the organization
25 5.2 Strategic analysis
5.2.1 General
5.2.2 Vision, mission and strategy of an organization – Indicators
26 5.2.3 Definition of the vision and the mission
5.2.4 Definition of the strategic axes of the vision
5.2.5 Definition of the objectives to be achieved
5.2.6 Implementation of the vision and the strategy objectives
27 5.2.7 Identification of value drivers (levers)
5.2.8 Definition of Action Plans
5.2.9 Definition of the indicators
5.3 Risk, uncertainty and complexity
5.3.1 Addressing risk and uncertainty
28 5.3.2 Addressing complexity
5.4 Contributions to portfolios
5.5 Contributions to programs
5.6 Contributions to innovation at all the levels of the organization
29 6 Value Management at operational level
6.1 Situations for use of Value Management methods
6.1.1 General
6.1.2 Situation of scoping
30 6.1.3 Situation of conceptualization
6.1.4 Situation of optimization
6.1.5 Situation of re-design
7 Developing Value Management capability
7.1 General guidance on developing capability
31 7.2 Wider training in Value Management and Value Culture
7.3 Value Management team leaders
7.4 Supporting structure
32 7.5 Management information
7.6 Implementation of Value Management methods
8 Methods used in Value Management
8.1 Core Methods used in Value Management
33 8.2 Guidance on use of Value Management methods
8.2.1 General guidance
8.2.2 Value Analysis/Value Engineering (VA/VE)
8.2.2.1 Presentation
8.2.2.2 Value Analysis/Value Engineering and Value Management
8.2.3 Function Analysis (FA)
8.2.3.1 Presentation
34 8.2.3.2 Function Analysis and Value Management
8.2.4 Function Cost (FC)
8.2.4.1 Presentation
8.2.4.2 Function Cost and Value Management
35 8.2.5 The Functional Performance Specification (FPS)
8.2.5.1 Presentation
8.2.5.2 8.2.5.2 The Functional Performance Specification and Value Management
8.2.6 Design to Cost (DTC) / Design to Objectives (DTO)
8.2.6.1 Presentation
37 Annex A (informative)Methods and tools to be used within Value Management – Specific Value Methods and tools
A.1 Specific Value methods and tools
A.1.1 General
A.1.2 Value Analysis/Value Engineering (VA/VE)
A.1.2.1 Presentation
A.1.2.2 Detailed description
46 A.1.3 Function Analysis (FA)
A.1.3.1 Presentation
47 A.1.3.2 Detailed description
55 A.1.4 Function Cost (FC)
A.1.4.1 Presentation
A.1.4.2 Detailed description
56 A.1.5 The Functional Performance Specification (FPS)
A.1.5.1 Presentation
A.1.5.2 Detailed description
63 A.1.6 Design to Cost (DTC)/Design to Objectives (DTO)
A.1.6.1 Presentation
A.1.6.2 Detailed description
68 A.2 Other methods and tools

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BS EN 12973:2020
$215.11