CONCEPTS OF VALUE IN VALUE MANAGEMENT: The relationship between Function and Value

The term ‘Value Management’ suggests ‘value’ is being ‘managed’. However, when we discuss what the word ‘value’ means it often takes on many meanings. How can such ambiguity aid good value management? This paper explores the systemic relationship between value, the solutions that yield such value and the functions such solutions perform. Such understanding is necessary to aid the delivery of value improving results.