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Value management and innovation: A historical perspective and review of the evidence

Journal of Engineering, Design and Technology

ISSN: 1726-0531

Article publication date: 2 March 2015

Abstract

Purpose

The purpose of this paper is to provide a holistic and comprehensive historical perspective of the evolution of value management, and to illustrate the impact that value analysis can have on innovation within organizations.

Design/methodology/approach

A review of published material from credible sources describing the evolution of the value management methodology, and a desktop analysis of 35 documented value management case studies illustrating the role of value management in innovation.

Findings

Published descriptions of the evolution of value management are incomplete and fragmented. A holistic and comprehensive historical perspective of value management as a value-adding methodology is provided. Mapped against a model for innovation, value management is shown to contribute substantially to innovation within organizations across a variety of contexts. Value management is currently evolving into a powerful approach to strategic planning.

Practical implications

This paper illustrates the contribution of value management to innovation across a variety of industries and contexts.

Originality/value

The paper provides a holistic and comprehensive historical perspective of the evolution of value management as a methodology, and demonstrates by mapping selected case studies onto a model of innovation impact, that the method is a powerful and versatile approach to obtaining innovative solutions to organizational problems.

Keywords

Citation

(2015), "Value management and innovation: A historical perspective and review of the evidence", Journal of Engineering, Design and Technology, Vol. 13 No. 1, pp. 123-143. https://doi.org/10.1108/JEDT-03-2013-0021

Publisher

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Emerald Group Publishing Limited

Copyright © 2015, Emerald Group Publishing Limited