The ability to assimilate scope, performance, cost, schedule, and risk into meaningful models greatly helps managers make the important decisions needed to be successful in today’s economy. The Value Metrics Model reflects the observations of the project stakeholders and team studying the project. The measurements permit relative comparison and a better understanding of the rationale and merit of the various alternatives.
Our value specialists elicit critical information from project stakeholders, while ensuring it is properly structured to address project needs. This project information facilitates proper development of a value model, which supports sound and logical decision making.
Value Metrics provides a standardized means of identifying, defining, evaluating, and measuring performance. Once this has been achieved and costs for all value alternatives have been developed, measuring value is a relatively simple matter. Value Metrics can improve value studies by:
- Building consensus among project stakeholders (especially those holding conflicting views)
- Developing a better understanding of a project’s goals and objectives as they relate to purpose and need
- Developing a baseline understanding of how the project is meeting performance goals and objectives
- Identifying areas where project performance can be improved through the VE process
- Developing a better understanding of an alternative concept’s effect on project performance
- Developing a deeper understanding of the relationship between performance and cost in determining value
- Using value as the basis for selecting the best project or design concept
The basic and traditional VA/VE studies performed by our competition reflect just the basic Value Methodology process. The VA/VE studies conducted by VMS are enhanced with the Value Metrics process we developed and continuously refine as new needs, challenges, and innovations arise. This unique process has become the expectation for VA/VE studies from many of our clients today. Through Value Metrics we are able to create a value model through which we can holistically compare alternative concepts and improve project decision making.