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

C.I. Jay (Department of Construction Economics and Management, University of Cape Town, Cape Town, South Africa)
P.A. Bowen (Department of Construction Economics and Management, University of Cape Town, Cape Town, South Africa)

Journal of Engineering, Design and Technology

ISSN: 1726-0531

Article publication date: 2 March 2015

Issue publication date: 2 March 2015

3651

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

Jay, C.I. and Bowen, P.A. (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

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