ProRail, the manager of the Dutch railway network, has introduced Value Engineering over 15 years ago. Value Engineering has since become compulsory for projects larger than 15 million euro. Also, it is a standard element of the project development process and the organisation employs 30 Value Engineers to perform Value studies. But are Value studies enough to ensure that the organisation provides maximum value for money? The answer is no. Research on the effectiveness of the Value Management programme of ProRail has concluded that Value studies are being applied effectively, but that in general the organisation lacks a value-driven approach. As a result, much value creation for the client is missed out on, also after performing a Value study. To address this issue, the Value Management framework has been expanded with the element of Value Control. The purpose of Value Control is to control the value at project level and further embed value awareness in the processes. The first experiences with this approach are promising.
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