Value Management: Value Coding (PLACEHOLDER)

A Value Code is a way of capturing and describing a specific aspect of activity – typically business activity – in a format that makes it possible to measure the current state of that activity, decide its desired state and start the process of getting there.

What Goes Into a Value Code

Every Value Code has a short unique Label that quickly identifies the Value Code: this is usually no more than three or four words long.

There is then a Description that expands on the Label to give more information about what the Value Code covers: this usually features the topics within the scope of the Value Code, and – together with the Label – makes sure that everyone understands what the Value Code is about.

In other words, whilst the brevity of the Label might sometimes mean different people assume the Value Code refers to different things, the Description should eliminate any such ambiguity.

Sometimes, a Value Code also has additional help text that provides more information about that Value Code – it could be more information about what that Value Code means in a specific context; it could explain why that Value Code has been developed; it could detail how that Value Code relates to other tools or best practice.  Such text is not usually part of the Value Code itself, but added in the context that the Value Code is being used in.

When completed, each Value Code then has five Evaluation Statements that describe progressive states of achievement, aptitude or fulfilment with that Value Code.

• The worst possible state is typically listed first, the best possible state is listed last, and the three states in between describe improvements from worst towards best.
• As a minimum, each of the five Evaluation Statements has a Label that describes the state of achievement, aptitude or fulfilment – usually no more than one or two words (e.g. Failing, Struggling, Performing, Exceeding, Best Practice).
• Evaluation Statements usually also have Descriptions associated with each of the Labels to objectively describe what each of the states looks like in practice, and these Descriptions usually involve the topics described in the Value Code Description.

Just as the Value Code Description makes unambiguous what the Value Code Label means, each Evaluation Statement Description makes clear what is meant by its associated Evaluation Statement Label.

How Value Codes Are Used

All of this Value Code content can be used to present Value Codes in several ways.

It could be that they are set out as content to read and understand – descriptions of best practice and intent that show people what is in scope and what is expected of them.  After all, Value Codes capture what is valued and what that value looks like.

More often, though, Value Codes are used in diagnostics to evaluate the current state of activity, decide its desired state and start the process of getting there.

Sometimes, evaluation just involves presenting the Label, Description and Evaluation Statement Labels – usually where quick feedback is required – but where the Evaluation Statement Descriptions are also included for evaluation, that evaluation is more informed and precise.

Comments can also be provided to explain evaluations made and some evaluations also involve options to upload supporting evidence and/or to propose actions that could be taken to improve the situation.

Whilst people may provide different evaluations, a combination of 1. the objective Evaluation Statement Descriptions and 2. any comments and other information provided, means that subsequent discussions centre around specifics and not perceptions: the Evaluation Statement Descriptions either are or are not objectively fulfilled in practice, and the progressive differences between them also indicate what needs to happen to move from one to the other.

This is how Value Codes make it possible to measure the current state of activity, decide its desired state and start the process of getting there.