ABSTRACT
This chapter consolidates repeatable framework which combines two complementary concepts: double-loop control and the V-model. The resulting framework, IMPACT, encompasses the two fundamental stages of Value Management; baseline business case and value realisation. The V-model can also be applied very effectively for programme benefits. The V-model as used for benefits has the opposite limitation to that for deliverables; it focuses on outcomes and excludes the means and cost for achieving them through programme deliverables. The core element that underpins Value Management is precise, explicit quantification of the causal links between programme deliverables and stakeholder benefits. IMPACT covers the whole programme life by supporting the key Value Management stages, baseline business case and value realisation. Baseline business case delivers a robust; risk assessed and approved financial business case. The IMPACT framework is completely generic and can be used with any methodology.
