Value Analysis - Revision history

Tkokotas at 17:44, 16 November 2018

2018-11-16T17:44:37Z

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			''Developed by Mads Grøndal''


	==Abstract==		==Abstract==
	Value Analysis is a systematic tool which can be used to improve the value of a product or process by analyzing its constituent components and the associated costs <ref name="Npd"> "Value Analysis and Function Analysis System Technique [http://www.npd-solutions.com/va.html]" </ref>. The overall objective is to find improvements to the components by reducing their cost and/or increasing the value of the functions.		Value Analysis is a systematic tool which can be used to improve the value of a product or process by analyzing its constituent components and the associated costs <ref name="Npd"> "Value Analysis and Function Analysis System Technique [http://www.npd-solutions.com/va.html]" </ref>. The overall objective is to find improvements to the components by reducing their cost and/or increasing the value of the functions.

S123666: /* Strength and Weaknesses */

2018-02-28T20:09:58Z

Strength and Weaknesses

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	It is a visual representation that organizes and presents important information related to the future <ref name="SRM">"An Introduction to Strategic Roadmapping, [https://www.sopheon.com/wp-content/uploads/WhitePaper_IntrotoRoadmapping.pdf]"</ref>. A Gantt Chart can also be used to illustrate the project schedule.		It is a visual representation that organizes and presents important information related to the future <ref name="SRM">"An Introduction to Strategic Roadmapping, [https://www.sopheon.com/wp-content/uploads/WhitePaper_IntrotoRoadmapping.pdf]"</ref>. A Gantt Chart can also be used to illustrate the project schedule.

	==Strength and ~~Weaknesses~~==		==Strength and challenges==


			===Strenghts===
			The points below presents some of the major strengths of a Value Analysis
	*Customer focused development		*Customer focused development
	*Cost Reduction		*Cost Reduction
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	*Feasible Decision Making		*Feasible Decision Making

	The challenges when using Value Analysis is the required precision throughout each step. General superficial definitions cannot be used which requires enormous focus on information and data collection. The large focus on stakeholder management can also become an obstacle if there is a lack of cooperation between all stakeholders as well as different interests. Furthermore, it can be difficult to precisely define all cost associated with a function.		===Challenges===
			The challenges when using Value Analysis is the required precision throughout each step. General superficial definitions cannot be used which requires an enormous focus on information and data collection. The large focus on stakeholder management can also become an obstacle if there is a lack of cooperation between all stakeholders as well as different interests. Furthermore, it can be difficult to precisely define all cost associated with a function.

	==List of References==		==List of References==

S123666 at 20:08, 28 February 2018

2018-02-28T20:08:21Z

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 A tool that could be used is Strategic Roadmapping. The strategic roadmap is a time-based plan that defines where a business is, where it wants to go, and how to get it there.
 It is a visual representation that organizes and presents important information related to the future <ref name="SRM">"An Introduction to Strategic Roadmapping, [https://www.sopheon.com/wp-content/uploads/WhitePaper_IntrotoRoadmapping.pdf]"</ref>. A Gantt Chart can also be used to illustrate the project schedule.
 ==List of References==

S123666 at 19:42, 28 February 2018

2018-02-28T19:42:55Z

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 It can be beneficial to use tools such as Competency mapping and considering the Five Stages of Team Development when forming the team. Focus groups can be used to help to understand the general market perception towards changes in an existing product.
-A successful Value Analysis is largely dependent on every person within the team has a common understanding of the project scope. Therefore it is also of great importance that the right project manager is chosen. It could be beneficial to consult with existing standards such as PMBOK, ISO 21500 or IMPA. All standards are listed in the Further Readings Section.
+A successful Value Analysis is largely dependent on every person within the team has a common understanding of the project scope. Therefore it is also of great importance that the right project manager is chosen. It could be beneficial to consult with existing standards such as PMBOK, ISO 21500 or IMPA.
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 ==Further Readings==

S123666 at 19:20, 28 February 2018

2018-02-28T19:20:55Z

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	<references/>		<references/>

			==Further Readings==

S123666: /* Phase 5: Implementation and Monitoring */

2018-02-28T18:12:57Z

Phase 5: Implementation and Monitoring

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	A tool that could be used is Strategic Roadmapping. The strategic roadmap is a time-based plan that defines where a business is, where it wants to go, and how to get it there.		A tool that could be used is Strategic Roadmapping. The strategic roadmap is a time-based plan that defines where a business is, where it wants to go, and how to get it there.
	It is a visual representation that organizes and presents important information related to the future. <ref name="SRM">"An Introduction to Strategic Roadmapping, [https://www.sopheon.com/wp-content/uploads/WhitePaper_IntrotoRoadmapping.pdf]"</ref>. A Gantt Chart can also be used to illustrate the project schedule.		It is a visual representation that organizes and presents important information related to the future <ref name="SRM">"An Introduction to Strategic Roadmapping, [https://www.sopheon.com/wp-content/uploads/WhitePaper_IntrotoRoadmapping.pdf]"</ref>. A Gantt Chart can also be used to illustrate the project schedule.

	==List of References==		==List of References==

	<references/>		<references/>

S123666: /* Phase 5: Implementation and Monitoring */

2018-02-28T18:10:54Z

Phase 5: Implementation and Monitoring

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	A tool that could be used is Strategic Roadmapping. The strategic roadmap is a time-based plan that defines where a business is, where it wants to go, and how to get it there.		A tool that could be used is Strategic Roadmapping. The strategic roadmap is a time-based plan that defines where a business is, where it wants to go, and how to get it there.
	It is a visual representation that organizes and presents important information related to the future. <ref name="SRM">"An Introduction to Strategic Roadmapping, [https://www.sopheon.com/wp-content/uploads/WhitePaper_IntrotoRoadmapping.pdf]"</ref>.		It is a visual representation that organizes and presents important information related to the future. <ref name="SRM">"An Introduction to Strategic Roadmapping, [https://www.sopheon.com/wp-content/uploads/WhitePaper_IntrotoRoadmapping.pdf]"</ref>. A Gantt Chart can also be used to illustrate the project schedule.

	==List of References==		==List of References==

	<references/>		<references/>

S123666: /* Phase 5: Implementation and Monitoring */

2018-02-28T18:09:24Z

Phase 5: Implementation and Monitoring

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	===Phase 5: Implementation and Monitoring===		===Phase 5: Implementation and Monitoring===

	>pre>Objective: Develop action plans and a way to monitor the implementation. </pre>		<pre>Objective: Develop action plans and a way to monitor the implementation. </pre>

	In this phase, the team should prepare a report that summarizes the work done and describe the action plans required for implementation as well as a plan on how to continuously monitor the implementation.		In this phase, the team should prepare a report that summarizes the work done and describe the action plans required for implementation as well as a plan on how to continuously monitor the implementation.
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	A tool that could be used is Strategic Roadmapping. The strategic roadmap is a time-based plan that defines where a business is, where it wants to go, and how to get it there.		A tool that could be used is Strategic Roadmapping. The strategic roadmap is a time-based plan that defines where a business is, where it wants to go, and how to get it there.
	It is a visual representation that organizes and presents important information related to the future. <ref name="SRM">"An Introduction to Strategic Roadmapping, [https://www.sopheon.com/wp-content/uploads/WhitePaper_IntrotoRoadmapping.pdf]"</ref>.		It is a visual representation that organizes and presents important information related to the future. <ref name="SRM">"An Introduction to Strategic Roadmapping, [https://www.sopheon.com/wp-content/uploads/WhitePaper_IntrotoRoadmapping.pdf]"</ref>.



	==List of References==		==List of References==

	<references/>		<references/>

S123666 at 18:09, 28 February 2018

2018-02-28T18:09:13Z

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	A tool that can be used to assist in the process is the Analytical hierarchy process (AHP). This is an unbiased decision-making tool which uses data to make the best decision <ref name="AHP">"AHP as a Decision-Making Tool in Projects, Programs and Portfolios, Article on Apppm Wiki [http://apppm.man.dtu.dk/index.php/Stakeholder_Management]"</ref>.		A tool that can be used to assist in the process is the Analytical hierarchy process (AHP). This is an unbiased decision-making tool which uses data to make the best decision <ref name="AHP">"AHP as a Decision-Making Tool in Projects, Programs and Portfolios, Article on Apppm Wiki [http://apppm.man.dtu.dk/index.php/Stakeholder_Management]"</ref>.

			===Phase 5: Implementation and Monitoring===

			>pre>Objective: Develop action plans and a way to monitor the implementation. </pre>

			In this phase, the team should prepare a report that summarizes the work done and describe the action plans required for implementation as well as a plan on how to continuously monitor the implementation.

			A tool that could be used is Strategic Roadmapping. The strategic roadmap is a time-based plan that defines where a business is, where it wants to go, and how to get it there.
			It is a visual representation that organizes and presents important information related to the future. <ref name="SRM">"An Introduction to Strategic Roadmapping, [https://www.sopheon.com/wp-content/uploads/WhitePaper_IntrotoRoadmapping.pdf]"</ref>.



	==List of References==		==List of References==

	<references/>		<references/>

S123666: /* Phase 4: Evaluation */

2018-02-28T18:06:50Z

Phase 4: Evaluation

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	The decision makers can experience difficulties in evaluating the alternatives in terms of their strengths and weaknesses. This can be a time-consuming process and a risk is that decisions are made before they are fully evaluated.		The decision makers can experience difficulties in evaluating the alternatives in terms of their strengths and weaknesses. This can be a time-consuming process and a risk is that decisions are made before they are fully evaluated.

	A tool that can be used to assist in the process is the Analytical hierarchy process (AHP). This is an unbiased decision-making tool which uses data to make the best decision <ref name="AHP">", AHP as a Decision-Making Tool in Projects, Programs and Portfolios, Article on Apppm Wiki [http://apppm.man.dtu.dk/index.php/Stakeholder_Management]"</ref>.		A tool that can be used to assist in the process is the Analytical hierarchy process (AHP). This is an unbiased decision-making tool which uses data to make the best decision <ref name="AHP">"AHP as a Decision-Making Tool in Projects, Programs and Portfolios, Article on Apppm Wiki [http://apppm.man.dtu.dk/index.php/Stakeholder_Management]"</ref>.


	==List of References==		==List of References==

	<references/>		<references/>