The Standard EN 12973
It is designed to provide flexibility and can be applied in a very wide range of circumstances. It captures the essence of Value Management and provides a framework for its application. It describes Value Management approaches and a range of methods and encourages the selection of the most appropriate methods to achieve the desired outcome.
The Standard primarily addresses the needs of three groups:
- Senior Managers seeking to enhance value within their organisations and for their customers.
- People involved in its application.
- Those involved in training and development.
The document progresses from an introduction outlining the benefits for management, through the underlying concepts to their application. It ends with a discussion of some of the techniques which may be useful.
Requirements and guidance on functional expression of the need and functional performance specification are set out in EN 16271.
The Standard EN 16271 states the conditions for successful implementation of Functional Need Analysis, Functional Need Expression and Functional Performance Specification. It extends the generic standard on Value Management, EN 12973.
The Standard EN 1325 defines terms for Value Management (VM), to develop a consistent and common language for use in optimising performance and productivity for organizations, projects, products, and services.