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Value Management Strategies for Your Business

MetaCX has built the Business Value Network, a first-of-a-kind network that companies join to manage the expected value from their business relationships with customers, vendors, and other stakeholders.

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Value Alignment

By collaborating in a persistent digital space, companies are able to maintain continuous alignment with other businesses in their ecosystem—customers, vendors, and other stakeholders—to manage the expected value from these relationships.

Value Measurement

Value Measurement

The Business Value Network creates a private, secure space for each member to instrument any application, system, or digital endpoint. MetaCX transforms this data into a real-time, comprehensive view of how companies are tracking toward the achievement of expected outcomes and realization of value.

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The QBR is Dead. Enter the CBR.

The QBR is Dead. Enter the CBR.

Measuring Value with MetaCX

Measuring Value with MetaCX

Understanding Value Management Strategies

There are several ways to measure value in the business world. It’s important to ensure customer satisfaction, as well as company sustainability. But exactly what is value management in project management, and why is value management important? Simply defined, value management is the process by which value is measured from both a customer standpoint and a profitability standpoint.

Striking a healthy balance between the two is critical to the overall success of an organization, as they need to keep their customers happy while also making sure that the value they provide those customers results in some sort of return on investment.

Coming up with good value management strategies is essential to managing and creating value. It’s also important to understand value management vs. value engineering—the former concerns value management from a more general, structural level, while the latter deals with the specifics involved with cost reduction and the materials needed to make that happen.

Value management contains many crucial components, and the way in which value management strategies are developed can vary from business to business, but its ultimate purpose is to provide better value to customers and maintain or increase profitability for the company.

With MetaCX, users are able to manage value in the performance economy. MetaCX aligns suppliers and buyers on expected outcomes and measures value delivery over time. Using next generation enterprise software, the platform works to define, manage, and measure value in a way that scales across entire business ecosystems. MetaCX is leading the way in terms of measuring the exchange of value. In addition, it prioritizes value in business relationships, allowing users to manage all of their business relationships in one location. You can connect with organizations both upstream and downstream in your value chain to ensure the success of your most strategic initiatives.

Understanding Value Management Principles

It is impossible to discuss value management principles without addressing the prioritization of desired outcomes. At the end of the day, regardless of how you choose to implement value management within your existing business operations, your goal is to achieve improved, value-based results for both your company and your customers. The SMART value management strategy was developed in the 1990s, introducing the value tree as a means of linking functions necessary to complete project objectives. With the SMART methodology, businesses can rank values and better understand the overall costs and value associated with their projects.

Distributing a value management PDF can be a great way to convey value management examples to those on your team. For instance, if you’re a construction business, you may consider sharing materials on value management techniques in construction. Helping your company understand the importance of value management principles can put you on the path to success. It can be helpful to outline principles and prioritize which aspects of value management are most important to your business and customers.

There isn’t necessarily a right or wrong way to perform value management—it all depends on your unique company, the industry you’re in, and the ways in which you decide value management can best serve your interests.

Adopting a Value Management Framework

A value management framework can be used to define company goals and provide a road map for how to achieve them while ensuring customer value. By implementing a framework, you can get a better idea of how the value management process should or might look like within your company. It can also help you outline the stages of value management and identify the importance of each stage or step in the process. In short, a framework such as this can help you organize and outline your value management strategy.

You might view a value management study to get a sense of how value management can benefit your business, and you may consider creating a value management PPT to explain how value management is implemented during project execution. There are many ways to use a value management framework, and they can all prove useful when it comes time to actually implement a value management strategy and get to work on balancing customer value and profitability. Look into different methods to discover what might work best for your company.

Additionally, you might employ the help of a value management organization or value management platform to track value in a measurable way. Value Management Strategies Inc. (or VMS Inc.) is one such platform that makes this possible. MetaCX is another platform that enables users to operationalize and scale the value management process, including all key stages of value management. With MetaCX you can connect with your customers to put value at the center of the customer experience and continuously prove value delivery. You can also connect with your vendors to create accountability and ensure you are receiving the value promised.

The MetaCX platform offers shared technology capabilities so that you can connect with your business partners through co-owned digital spaces where two or more organizations can come together to align on the desired outcomes, action plans, and evaluation measures necessary to achieve shared success. With the help of value-based performance metrics, you can track the success of initiatives by capturing data not only from your organization but from those you partner with. In this way, you can turn disparate data points into a dynamic view of performance toward the achievement of outcomes and delivery of value.

MetaCX also ensures data neutrality and offers embedded value plans that interface directly into any SaaS application, website, or digital experience, eliminating the need to navigate outside the set of tools already in use. This allows you to propel adoption across your organization and those you partner with.

Earned Value Management Principles

Earned value management refers to the project management methodology whereby schedule, costs, and scope are integrated to measure project performance. Earned value management principles, then, are based on methods and strategies to balance the value of work with the cost to complete it. Earned value management example problems aim to answer questions about costs and value. For instance, in one example of earned value management, you may have spent $500 in one month and only completed 25% of a given project. You would then use these numbers, along with your given budget, to determine whether or not it’s worth the cost to your company.

With an earned value management exercises and answers PDF, you can answer some common questions about the earned value and help your team understand how to measure it. Likewise, an earned value management example PDF can give an example of what kinds of factors you might take into account when determining earned value.

The earned value management tutorial you choose to implement for your business, (whether an earned value management example Excel file or an earned value management PDF) should demonstrate the importance of tracking earned value and provide examples on how to use these metrics within your business.

Value Management Techniques for Performance Tracking

There are multiple different value management techniques that you can use to track and measure value. By hosting a value management workshop, you can develop techniques and train your team on various value management methods. You might also create a value management tools and techniques PDF to share information on value management tools in an easy, accessible way. In terms of value management techniques, CIMA provides excellent tools and resources.

MetaCX also offers quality tools for developing value management techniques and implementing value management tactics into your business. You can document and track key deliverables by which you and your partners can define value and measure success, as well as create outcome templates tailored to specific use cases and personas to simplify and scale the prioritization of value in business. Users can also capture and conceptualize real-time, multidirectional data to create a comprehensive view of performance toward the achievement of outcomes and delivery of value.

With MetaCX, users can gather data from up to four companies directly in MetaCX to more accurately track the progression of value and impact of a partnership. You can construct step-by-step action plans aligned to the short-term goals and long-term initiatives that are the basis of each business partnership.

Principles of Value Management in Construction

Value management can be applied differently to different industries. For example, the principles of value management in construction aren’t necessarily the same as value management principles in healthcare. Value management strategies in construction might center around design costs and how long it will take to carry out a certain construction project. There are several different value management examples in construction, and you can better understand them by viewing a value management in construction case study or value management in construction PDF. These resources will help you better understand the importance of value management in construction.

Whatever your industry, MetaCX is available to help get your team on track and align you and your partners on expected outcomes and delivery of value. By working with MetaCX’s team of experts, you can uncover the outcomes that are relevant to your business relationships. Whether you plan to collaborate with vendors, customers, or other stakeholders, MetaCX will help you build out a full outcome library with playbooks mapped to specific capabilities.

MetaCX’s real-time data integration layer gives users the ability to track the creation and delivery of value. MetaCX’s implementation team can assess your existing tool stack and instrument your MetaCX instance to consume data from applicable tools based on your desired use cases. Best of all, MetaCX’s dedicated support connects you directly with a team of technical experts. With a guaranteed response time of 24 hours, MetaCX’s team is ready to help you troubleshoot any technical hurdles you may face.