Making Sense of Value
Making Sense of Value
Starting 28 May 2020 12:00 through to 28 May 2020 13:00
PMI UK Digital Events Team presents...
Value is the foundation of successful change initiatives which include strategic initiatives, programs, projects, innovation and continuous improvement.
Value can be defined as a ratio between the alignment with stakeholders’ expected benefits and the achievability of the proposed solutions. The Value ratio is also the basis for business analysis techniques like the ROI (Return vs Investment), NPV (Net Present Value) SWOT analysis, and the project management’s Scope and Quality vs Time and Cost. Value management is also strongly linked to creativity and innovativeness which are essential in today’s VUCA (Volatile, Uncertain, Complex and Ambiguous) context.
To support this approach, Benefits Realization Management (Alignment) will be considered as one aspect of the value ratio and Risk Optimization (or Achievability) as the other aspect of that ratio. We will discuss how:
- Benefits must be identified, agreed, delivered and sustained.
- Risks thresholds, or overall risk, define the achievability of a change initiative.
- Value integrates both concepts to give managers a means to identify the solutions that will align best with the organization’s strategy and offer the best achievability factor: The Value Index.
The presentation will show how to calculate the value index and use it to prioritise change initiatives, not only on their alignment to objectives, but also on their achievability, or overall risk. Thus enabling , sponsors, portfolio, program and project managers to define, measure and deliver value to the business.
Dr. Michel Thiry, FAPM, PMI Fellow
Author, Keynote Speaker, Managing Partner Valense Ltd., Organizational Architects.
Michel has an extensive worldwide experience and has worked in many cultural environments. He is recognized as a worldwide authority in strategic applications of project, program and value at organizational level and has supported the development and implementation of numerous strategic programs for major corporations in various fields.
He has written and lectured widely and been invited to sit on expert panels in international Academic and Practitioner forums. He is the author of “A Framework for Value Management Practice” and of the best-seller “Program Management”.