Australian Governments, industry, consumers and professions are fortunate to have ready access to the recently updated Value Management standard.  The 2007 update makes the Australian Standard for Value Management the most current VM standard.

This Standard is an essential and a critical document for the understanding and practice of Value management in the Australian marketplace. Many other neighbouring countries employ and reference the Australian Standard as a basis for guaging practice within their public and private sectors.

value management standard

The Australia Standard for Value Management is AS 4183-2007.

The Standard contains key definitions, applications and links to other processes related to Value Management (particularly Economic and Financial Appraisal as well as Risk Management). The Standard also records the guiding principles of Value Management, delivering and following up a Value Management study. The Standard also describes the work of a Value Analyst who may work alone.

Standards Australia manages all Australian Standards documentation.  Although the Institute and a number of senior members contributed significantly to both the 1994 and the 2007 updated Value Management Standard, the Institute cannot reproduce or supply the text of AS4183:2007 on this website.  Information on buying the Australia Standard can be found here.

Other nations and the European Union, also have their own applicable Standards to which the Value Management work carried out in those jurisdictions must comply.