ABSTRACT
The value management approach outlined here is based on proven techniques for identifying, planning, managing and evaluating the benefits of a business transformation. It depends on the engagement of stakeholders in the preparation of the business case and benefits plan to create the knowledge and commitment required to realize the benefits. Business changes are permanent changes to working practices, processes, structures or relationships that are required to be implemented and sustained to deliver the benefits. Benchmarking is commonly used in a number of industries as the starting point for improvement programs and can be a valuable approach to quantifying benefits, in relation to best practices in the industry, or in comparable processes in other industries. Pilot projects may be necessary to identify, confirm and evaluate the benefits that can be achieved from new business models and ways of working.
