The Institute Of Value Management Australia aims to provide both the public, and its members, a resource to understand, foster, and facilitate achieving value across a range of industries and projects. The Institute provides education platforms, training, and reviewed information to help you find ways of ensuring you can maximise the value output of your efforts.
Value Times highlights
This carefully curated series presents past Value Times’ articles that have current and ongoing relevance.
Procurement Managers re-balance Price Vs Risk and, as they do, they try to incorporate more and more ‘wants’ into the purchase equation. Jonathan Dutton FCIPS asks what is ‘value’ from a PROCUREMENT point-of-view — can it only ever be in the eye of the beholder?
“Value for Money in Procurement” by Jonathan Dutton, FCIPS, is on page 3 of the Autumn 2022 Value Times:
Member-only publications
Current financial individual and corporate members can access IVMA-endorsed papers and other pertinent value management related content.
The first of these to be made available – A Value for Money Guideline – can be accessed through the Knowledge Bank/Value Management Papers tab.
What is “Value for Money” really about?
Value for money is something that we all desire yet all too often this remains only a statement of hope.
To demonstrate value for money requires a comparison – something can only be seen as better (or worse) value for money relative to something else.
The Value Management process provides a robust way to both achieve and evidence better or even best value for money.
In Australia the Value Management process has robust structure and professional support available through:
- the Australian Standard for Value Management AS4183:2007
- the Institute of Value Management Australia Limited to assist and provide professional assurance to government, industry and the marketplace in their efforts to understand value and how to achieve best value for money.
The Institute of Value Management fosters a community of interest in value and value for money, establishes training templates, accredits the professional standing of specialist Value Management practitioners, demands the allegiance of professionals to codes of behaviour and practice, and strives to be the voice on value for money nationally.
