RAF & Associates LLC - All Rights Reserved

The “Value Management Framework” is a system of management practices that organizations can use to bridge the gap between strategy and execution to create measurable and sustainable value.

Home Offerings Partners Resources Contact Us

Portfolio Management

Organizations need to make the shift from free-for-all competition for resources among stand-alone projects to disciplined portfolio management. This involves managing all blended investment programs as part of a portfolio with clear performance objectives. Portfolios are structured groupings of investment programs selected by management to achieve defined business results, while meeting clear risk/reward standards.

Program Management

Organizations need to make the shift from stand-alone project management to managing blended business investment programs, including all elements of the business system. To understand the magnitude of this change, it is important to make the distinction between projects and programs. Projects are a structured set of activities concerned with delivering a defined capability to the organization based on an agreed schedule and budget. Programs are structured groupings of projects designed to produce clearly identified business results.

Project Management

A project is a group of activities concerned with delivering a defined capability based upon an agreed schedule and budget.  A management process must be applied to the full project life cycle from design to delivery.  It includes definition of project scope, project design, construction, testing, and implementation.

Service Management

Traditionally, Service Management applies to the IT function.  In the Value Management Framework, all functional areas are accountable for delivering business benefits and must consider the quality of services they provide by focusing on the relationship with customers to provide service level agreements.

Leadership Accountability

Accountability must be assigned in a more active mode to clearly identify business sponsors of the change programs that produce benefits, as well as the people responsible for specific projects and tasks. Business managers are accountable for delivering business benefits, and IT managers are accountable for delivering the right tools and technological capabilities. Leadership accountability includes the concept of ownership. By ownership, we mean active, continuous involvement in managing a program and, most importantly, clear ownership of each measurable outcome.

Relevant Measurement

Measurement systems must be adjusted to measure the elements that count in the benefits realization process and to give the people who are accountable the information they need to make decisions and act upon them. Performance management requires measurement of new domains of organizational performance, moving beyond the traditional measurement of inputs to measurement of key business outcomes. Measurements must clearly link the contribution of programs to outcomes, and themselves be linked to clear lines of accountability.

Performance Management

Performance Management includes activities that ensure goals are consistently met in an effective and efficient manner. Performance management can focus on an organization, a department, an employee, or even the processes to build a product or service, as well as many other areas.

Organizational Learning

Training and coaching are used to help people impacted by the programs to acquire the competencies to change how they do their jobs and to help them to work in environments characterized by collaboration, openness, inquiry, and continuous improvement.

Change Management

Change management methods must be applied effectively both to introduce the new benefits mind-set and to support all phases of full-cycle governance. As with accountability, a leadership approach to managing change is required for organizations to take charge of the benefits realization process. The major change processes of benefits realization must be actively structured and visibly led by senior management. Their leadership role must be shared with program and project managers. The concept of ownership in major investment programs, introduced to sharpen the focus on accountability, includes the idea of ownership in key change initiatives. It conveys the sense that people can proactively direct the course of change.

Offerings Value Management & Implementation Engagement