Value Management: Why It’s Needed; Why It Works
Most of us are only all too aware of the overwhelming turbulence and challenges of today’s commercial environment.
Change is accelerating, there are more frequent and profound “shocks”, global issues have increasingly local effects and disruption abounds
The result? Struggling relationships, waste, missed targets, and evaporating morale at every level – for individuals; for organisations; for entire industry sectors and ecosystems:
Read more: Forbes, HBR, Forbes & Project Management Works.
In response, conventional management approaches aren’t just sub-optimal; they are actively making things worse. This is because they fail to understand one or more (often all) of:
- Complexity – how it accounts for and explains today’s intensifying challenges and guides how to respond to them effectively.
- People – how to recognise and best support how they need to think, organise and work in this complex environment.
- Value – how it is primarily subjective (going far beyond price and cost), how it can be understood and managed, and why it is the only effective and appropriate principle by which to navigate complexity.
The desperately-needed alternative is Value Management.
Developed from a deep understanding of complexity, people and value, Value Management is:
- Complexity-Aware: understanding and incorporating the dynamics of complexity – and, in particular, how technology fuels them – such that it can be harnessed.
- People-centred: empowering them, fostering discernment and achieving engagement, motivation and change.
- Value-led: understanding value in its widest sense, and using it to shape all decision-making and activity – optimising effectiveness and maximising benefits.
Value Management is therefore the only appropriate and effective management approach available, making it possible to not just survive today’s challenges, but to thrive.