VSR Council Value Terminology Guide

About this Value Terminology Guide (TVA)

This Value Terminology Guide contains short definitions of selected key terms that are important to, yet sometimes misunderstood, within the discipline of value management for IT-enabled business solutions. Purpose: TVA’s purpose is to enable the value management community to enhance their effectiveness among peers, colleagues and customers, by providing a language that is clear and consistent across the world.

Completeness:

TVA’s definitions are intentionally brief, in order to enable readers to quickly grasp the essence of the term. For that reason, many of the subtleties and variations often associated with definitions have been omitted.

Sources:

TVA has been compiled by members of the Value Selling & Realization Council (www.vsrcouncil.org), a non-profit, global community of leading value management providers and practitioners. The Value Selling & Realization Council’s charter is to: Maximize value from investments in IT-enabled change by establishing and promoting value management awareness and understanding, standards, practices, and tools that enable technology vendors and enterprise corporate executives to collaborate in developing and executing a “roadmap to value”.

Special thanks:

While many VSR Council members around the world contributed to this Guide, special thanks are due to those who went above and beyond the call of duty, such as: Shimon Abouzaglo, John Foster, Dylan Gray, Andrew Hall, Trevor Howes, Jonathan Jeffers, Jack Keen, Dinesh Kumar, Jodi Mayburry, Tom Pisello, and Stephen Timme. Thanks also to Anurag Goel who so nicely designed TVA’s layout.

For more information:

To provide feedback on TVA, and/or to learn more about the VSR Council, and its related global activities, please contact TVA’s Editor, Jack Keen at Jack.Keen@VSRCouncil.org.

NOTE: Words capitalized in the Definition section below indicate terms defined elsewhere in the Guide.

Term	Definition
Accountability	Answerable for the successful completion of an Activity or an Outcome. Unlike" responsibility", accountability cannot be delegated.
Activity	A situation where things are being done to help operate an enterprise (source: Dictionary.com). May be part of a “Process”.
Actionable Business Case (ABCase)	A business case approach which emphasizes disciplined, value -focused interviewing, analysis, presentation and full Value Life Cycle usage.
B2B	Abbreviation for "Business-to-Business", whereby a provider (a business) markets directly to other businesses (as opposed to marketing directly to consumer, which is called "B2C").
B2C	Abbreviation for "Business-to-Consumer", the market whereby a provider (a business) markets directly to individual buyers, as opposed to marketing directly to other businesses, which is called B2B").
Balanced Scorecard	The Balanced Scorecard, developed by Robert S. Kaplan and David P. Norton, is a coherent set of performance measures organized into four categories. It includes traditional financial measures, but adds customer, internal business process, and learning and growth perspectives.
Base Period	The foundation period from which the ROI analysis is computed. This is often the status quo in many business cases. Considered as “Year 0” by the Value-on-Demand ROI methodology. The formulas calculate the differences between the base period and the target period and assign this value to the period Year 1.
Baseline	The value of a measure before there has been any influence on it by the Program. A baseline is fixed in time, even if the view on its trajectory is a Projection.
Benchmarking	A systematic approach to comparing an enterprise’s performance against peers and competitors in an effort to learn the best ways of conducting business (e.g., benchmarking of quality, logistical efficiency and various other metrics). Sometimes called "Peer financial comparison".
Benefit	A business improvement, in the opinion of relevant Stakeholders, resulting from a Change Initiative. Benefits can be Tangible (measurable in monetary terms), or Intangible (measurable, or non-measurable, but without monetary calculations). See "Business Outcome"
Benefit Owner	The person responsible for the realization of a Benefit.
Benefit Profile	A set of information describing a single Benefit, such as its attributes, categorization, Benefit Owner, dependencies, baselines and target values, time trajectories (e.g. ramp up, tail-off), calculations for giving monetized values (if relevant), rationale and evidence for such explanations.
Benefits Case	A Business Case that only considers Benefits, not investment and operational costs.
Benefits Harvesting	A management discipline focusing on the actual attainment of Benefits following implementation of the Change Initiative.
Benefits Map	A visual network depiction of Benefits, showing key cause and effect relationships, linked to one or more Change Initiatives that drive Benefits, either directly or indirectly.
Benefits Mapping	The process of creating a Benefits Map.
Benefits Monitoring	See "Benefits Tracking".
Benefits Realization	The process of achieving Benefits from an IT-enabled Change Initiative.
Benefits Tracking	The process of monitoring and evaluating Benefits to determine if they have been realized, or at Risk of not being realized.
Best Practice	A high quality procedure recognized by experts as equal or superior to those undertaken by comparable organizations. Also called "Leading Practice".
Break-even Point	Point in time where cumulative Tangible Benefits generated from an investment equal the cumulative cost of the Project.
Business	Work related to production, buying and selling (or acquiring and providing) of products or services. Includes for-profit and non-profit organizations.
Business Alignment	A measure of the fit of the Capabilities of an organization to achieve objectives of a planned investment.
Business Benefit	A Benefit of importance to a business. See "Benefit".
Business Case	Documentation of the cost and Benefit (Tangible and Intangible) rationale for making a business investment, used to both support a business decision on whether to proceed with the investment and as an operational tool to support management and value realization of the investment through its full economic life cycle. Also called a "Cost-Benefit Analysis"
Business Impact	See "Business Outcome".
Business Model	Describes the rationale of how an organization creates, delivers and captures Value in economic, social, cultural or other contexts. (Source: Wikipedia)
Business Outcome	Something of value predicted or resulting, either directly or indirectly, from the implementation of a Change Initiative. When measurable these become Business Benefits.
Business Process	An inter-related set of cross-functional activities or events that result in the delivery of a specific product or service to a customer.
Business Process Reengineering (BPR)	See "Reengineering"
Business Sponsor	The highest ranking individual(s) accountable for delivering the Benefits of an Change Initiative
Business Transformation	Radical redefinition or redesign of an organization that would not be possible without the capabilities provided by IT, but which generally requires extensive changes to other elements of the business system in order for the desired transformation to occur.
Business Value	See "Value".
Capability	An aptitude, competency or resource that an enterprise may possess or require of an enterprise, business function, or individual. Subset of a Feature. Typically involves Process, people and technology when dealing with IT-enabled solutions.
Capability/Maturity Model (CMM)	A systematic method for evaluating the degree of formality and optimization of processes, in comparison to peers, with the intent of identifying improvement opportunities.
Capabilities Alignment	Identification of Capability(ies) required for the organization to successfully execute against its strategic goals.
Case for Change	Synonym for a "Business Case". In Change Management can be talking points delineating the benefits of a change and risks of not changing.
Cash Flow	Amount of cash generated by the operations of a company over a period of time. Calculation of Cash Flow will add back non-cash expenses such as depreciation and amortization to net income reported on the income statement. It also accounts for changes in working capital.
Center of Excellence (CoE)	A team, a shared facility or an entity that provides leadership, evangelization, best practices, research, support and/or training for a focus area. (source: Wikipedia)
Change Initiative (CI)	An investment opportunity that contributes to one or more important business outcomes. Often called a "Project" or a "Program". See also "Solution".
Change Management (CM)	Change management is the discipline that guides how we prepare, equip and support individuals to successfully adopt change in order to drive organizational success and outcomes (source: Prosci). Often called "Organizational Change Management (OCM)".
Continuous Improvement (CI)	A philosophy of on-going betterment which originated in Japan, where it is known as kaizen, involving everyone in an organization on a day-to-day basis in a constant quest for continuous, incremental improvement on all fronts.
Cost-Benefit Analysis (CBA)	See “Business case.”
Cost of Delay	The cost borne as a result of delaying an investment decision, or the value of doing something sooner rather than doing it later.
Cost of Doing Nothing	Opportunity cost of maintaining the status quo.
Critical Success Factor (CSF)	An activity that is crucial to the satisfactory completion of an investment, or execution of an activity.
CxO	The highest ranking senior officer of a group. The "n" stands for a specific type of chief officer, such as "E" for "Executive", as in "Chief Executive Officer (CEO)", or "F" which stands for "Finance", as in "Chief Finance Officer".
Dashboard	A graphically intensive reporting methods that succinctly shows the results of Key Performance Indicators (KPIs).
Decision Criteria	Factors by which the investment options will be evaluated by the decision team. Often includes “Benefits“, "costs, or “Risks” when used in the context of a Business Case.
Decision Model	A network of connected decisions, information and knowledge that represents a decision-making approach that can be used repeatedly. (Source: Wikipedia.)
Decision Influencers	See "Decision Participants".
Decision Participants	Individuals who will influence, recommend, or make a buying decision. As a group, they are often called the “decision team.”
Decision Period	The time period during which a Change Initiative investment is made and the Business Outcome from that investment is realized.
Decision Rights	Identification of which people or groups have the responsibility for making decisions related to investment decisions and/or implementation. See also "Governance".
Dependency	A reliance that an outcome has on certain things being in place or provided as inputs. These inputs may be outside the capability of a Program to provide. Dependencies can also be regarded as risks to timely Benefits delivery.
Digital Value	The relative worth of an item that is primarily computer dependent for its existence and/or operation. Examples: eBook publisher, DVD, mobile phone, applications.
Direct Benefit	Benefits over which the Program has direct control. These Benefits have the highest level of attribution to the Program or organization. Also known as "Tangible" or "Hard" Benefits.
Discovery Phase	The first of three primary phrases of the Value Life Cycle. The Discovery Phase focuses primarily on establishing investment scope and the roadmap for implementation. The Discovery Phase begins with the analysis of investment alternatives, and ends with the decision regarding which investment option to implement, and how.
Discounted Cash Flow (DCF)	See “Internal rate of return.”
Discount Rate	An interest rate you need to earn on a given amount of money today to end up with a given amount of money in the future (source: Investopedia.com). A Discount Rate is used to calculate the Present Value of a Change Initiative, and may or may not include the time value of money, tax effects, risks or other factors.
Discounted Rate of Return	See “Internal rate of return.”
Double-Counting	Occurs when several Change Initiatives or Programs attempt to claim the same Benefit or the sum of the claims amount to more than 100%; in reality double counting is an issue solved by sponsors deciding the percentage contribution of initiatives, Projects or Programs
Economic Justification	See "Business Case".
Economic Life Cycle	The period of time during which material Benefits are expected to arise from and/or material expenditures (including investments, running and retirement costs) are expected to be incurred by an investment Program.
Effectiveness	The extent to which objectives are met ('doing the right things').
Efficiency	Performing tasks with reasonable effort ('doing things the right way')
Evidence	Anything presented in support of an assertion. This support may be strong or weak. The strongest type of evidence is that which provides direct proof of the truth of an assertion. At the other extreme is evidence that is merely consistent with an assertion but does not rule out other, contradictory assertions, as in circumstantial evidence. Evidence if a crucial component of a Business Case, and often its weakest link.
Executive Alignment	A Business Alignment which is a measure of the fit of the Capabilities of a planned investment to business executive(s)' vision, mission, goals, objectives and/or selected Change Initiatives.
Feature	An important characteristic of something. (Source: Dictionary.com). Subset of “Functionality”.
Financial Benefit	See "Tangible Benefit".
Financial Formula	Common indicator of financial attractiveness of an investment option. Typical Financial Formulas are Internal Rate of Return (IRR), Net Present Value (NPV), Payback period (PP), and Return On Investment (ROI). Often organizations use two or more of these Financial Formulas. Also, an enterprise may develop its own financial calculations to supplement or even substitute for these four typical Financial Formulas.
Financial Justification	See "Business Case"
Financial Lever	A financially-defined Benefit which is driven by a relevant activity and/or investment.
Free Cash Flow	Measures how much cash is generated by a company's operations over a period of time after accounting for the cash required to maintain or expand the asset base (capital expenditures).
Functionality	The ability of a Change Initiative to perform an Activity
Governance, Full Cycle	An integrated management system that operationalizes the concepts of Program and Portfolio Management, distinguished by its long time frame, which supports management of the Benefits Realization process from the conception of Projects to the harvesting of Benefits – “from concept to cash.”
Go-Live	Point in time where a Change Initiative becomes operational.
Governance, Program	The management structure and activity of providing strategy and guidance for investment Programs or Projects, in order to help assure Business Outcomes success. Typically includes accountability for making strategic decisions and monitoring progress of implementation from an enterprise perspective.
Hidden Value	Benefits that exist, but are not visible to key stakeholders, often due to lack of intensive analysis.
Hurdle Rate	The minimum Rate of Return required on a Project or investment. This is an arbitrary rate typically set by a company's or a Project's management team. The riskier a Project or investment, the higher the hurdle rate will be.
Information Technology (IT)	A general term used to refer to all aspects of computing and communications technology, including hardware and software, both system software and application software, that encompasses the creation, storage, processing, distribution and display of information for a variety of uses, including business, educational, artistic, scientific, recreational, or personal.
Indirect Benefits	Benefits over which control is shared or wholly owned beyond the Program or organization itself with contribution from the effort of the initiative.
Initial Investment	One-time costs associated with acquiring and implementing a Change Initiative. For example, software license fees.
Intangible Benefits	Benefits that are difficult to quantify in monetary terms as well as to measure reliably such as improved staff morale and decision-making. In such cases proxy indicators of such Benefits can be developed. Oftentimes called "soft", "strategic" or "subjective" Benefits.
Internal Rate of Return (IRR)	The interest rate at which cash inflows equal cash outflows using the Net Present Value (NPV) calculation. Also known as the Rate of Return.
Initiative	See "Change Initiative" An area of investment through which returns are expected.
IRR	See "Internal Rate of Return"
Investment Decision Board	Management structure primarily accountable to manage an organization’s portfolio of blended investment Programs, and in doing so manage the level of overall funding to provide the necessary balance between company-wide and specific line-of-business needs.
IT	See "Information Technology (IT)
IT-enabled Change Initiative	A Change Initiative that is at least partially driven by IT Capabilities.
IT-enabled Solution	See "IT-enabled Change Initiative".
Key Metric	Variable in a Benefits calculation that is most controllable by management. Thus, for example, “fuel costs” for an airline, while a significant variable impacting profitability, might not be a key metric for a profitability calculation. However, “revenue per seat mile” might be the Key Metric, since airline management can most influence this variable.
Key Performance Indicator (KPI)	A primary measure of a cost or Benefit that is an important input to performance evaluation, including prior to as well as post "go live".
Knowledge Workers	People who work mainly with information, and whose work is characterized by information and knowledge being both the raw material of their labor and its product.
Leading Practice	See "Best Practice".
Life cycle	A series of stages that characterize the course of existence of an organizational investment (e.g. product, Project, Program).
Management Mind-set	A manager's attitude, disposition and/or mood and/or view of how life and organizations work. Understanding Management Mind-sets provides strong direction for discerning and predicting behaviors and decisions.
Measure, Benefit	A quantity, derived from the set of metrics, whose change in the desired direction would help to confirm that the related Benefit is being realized. Values can be numerical, statistical or text based.
Metric	A standard for measuring or evaluating something.
Mind-set	See "Management Mind-set"
Modeling	Developing a simplified representation of a system or phenomenon. Such representations may be static or dynamic, in which case behavior of the system or phenomenon under different conditions can be simulated. Also spelled "modeling".
Maturity Model	See "Capability/Maturity Model".
Net Cash Flow	Net value of the inflows and outflows of cash for each period of the analysis, including initial investment costs. Differs from “Cash Flow” in that net cash flow includes initial investment costs.
Net Present Value (NPV)	Net Present Value (NPV) NPV is the difference between the Present Value of cash inflows and the Present Value of cash outflows and is used to evaluate an investment or Project. The NPV of a Project usually is greater than zero to warrant consideration.
NPV	See "Net Present Value".
Objective	The intended Business Outcome or Goal of a Program, Project or organization. Some organizations will use the term "Goal" to mean what other firms consider as Objectives.
On-Budget	An expression indicating that a Project or Program is completed within the limits of its expected cost.
On-Time	An expression indicating that a Project or Program is completed within the expected time period.
On-Value	An expression indicating that a Project or Program has realized, or exceeded, its expected value.
Operations Lever	A Benefit related to the primary business of an enterprise, which is "tripped" due to a relevant investment.
Opportunity Cost	The cost of an alternative course of action that isn't pursued as a result of selecting a different course of action; or a Benefit, Value that must be given up to invest in something else.
Option	An investment alternative being considered for a Project or Program.
Organizational Alignment	Connection, via cause and effect, of Business Outcomes of a Change Initiative to enterprise objectives.
Organizational Change Management (OCM)	See "Change Management" and "Value-based Change Management".
Outcome	The results of change, normally affecting real-world behavior or circumstances. Outcomes are desired when change is conceived. Outcomes are achieved as a result of the activities undertaken to effect the change; they are the manifestation of part or all of the new state conceived in the blueprint. See also "Business Outcome".
Payback Period	The length of time needed to recoup the original investment in a Change Initiative.
Present Value	The value at the present time, using Discount Rates, of an item with monetary inflow or outflows going into the future. See also “Net Present Value.”
Portfolio	A grouping of investment Projects selected by management to achieve defined Business Outcomes, while meeting clear risk/reward standards.
Portfolio Management	Uses a panoramic view of business needs and opportunities, and investments in IT-enabled Change Initiatives, in order to pick and manage an optimum set of Programs (the portfolio) to deliver the most value over time, while adjusting the composition of the portfolio as more knowledge is gained and in response to changes in the environment.
	selecting investments/initiatives with highest relative value
Process	A systematic series of repetitive actions for operating an enterprise (adapted from Dictionary.com).
Productivity	Ratio of output divided by input resources required to produce a business change.
Program	A grouping of Projects designed to produce identified Business Outcomes.
Program Management	Management of the full Program life cycle from concept to cash. It includes: definition of Program scope, assessment of Program value, Program design, Program delivery, Benefits harvesting, and Program completion.
Program Manager (PM)	The individual responsible for the achievement of the Program's objectives
Project	A group of activities concerned with delivering a defined capability based upon an agreed schedule and budget.
Project Management	The overseeing of a Project to assure its completion within expected criteria.
Project Management Office (PMO)	The function for supporting Project managers, including the definition and propagation of standardized methodologies and gathering, assessing and reporting information about the conduct of their Projects. PMOs may also include Change Management consultants, Process Designers and/or Value Managers.
Qualitative Measures	Information & data that can observed but not numerically easily measured, such as business fit, business process logic, critical success factors, intangibles, and alternatives.
Qualitative Benefits	Benefits of a subjective or Intangible nature.
Quantitative Benefits	Benefits expressed in terms of a quantifiable improvement (in financial, percentage or other numerical terms) for example, costs or time saved.
Quantitative Measures	Information & data that can be measured using numbers; includes business Benefit estimates, risk assessment, return & valuation metrics, payback, and breakeven analysis.
Quick Win	Rapid realization of value from an investment that is important to getting stakeholder buy-in.
RACI Chart	A matrix showing for a given Project, who is Responsible, Accountable, Consulted or Informed.
Rate of Return	The interest rate at which cash inflows equal cash outflows using the Net Present Value (NPV) calculation. Also known as Internal Rate of Return (IRR).
Rationale	Primary reason(s) something can occur.
Realization Phase	The post-implementation portion of a Value Life Cycle, where Benefits typically occur.
Responsible	Used to describe the individual who has the authority and is expected to deliver a task or activity; responsibility can be delegated. See also "RACI Chart"
Return on Investment (ROI)	A simple calculation that measures the efficiency of an investment and allows the comparison of different investment options; it's calculated as the net Benefits of an investment divided by its cost.
Risk, Business	Degree of probability of not realizing the Benefits of a business Program or Project.
Roadmap	A series of activities required to produce a desired Business Outcome.
ROI	Abbreviation for the Return On Investment formula. Often used as shorthand for "Business Case".
ROI Selling (ROI-based Selling)	See "Value-Based Selling"
Root Cause	The primary reason why something is occurring. Also known as the fundamental cause.
Scorecard	A coherent set of performance measures organized into categories according to the interests of the management of the enterprise (The Balanced Scorecard, developed by Robert S. Kaplan and David P. Norton, is a well-known implementation of the scorecard concept. It organizes measures into four categories: traditional financial measures, customer, internal business process, and learning and growth perspectives.)
Scenario	A specific set of circumstances that define how an activity is performed.
Six Sigma	A set of tools and techniques for improving processes.
SME (Subject Matter Expert)	An individual with a recognized, strong competency in a specific area.
Soft Benefit	See "Intangible Benefit".
Solution	An IT-enabled investment opportunity that contributes to one or more important business outcomes. Often called a "Project" or a "Program". See also "Change Initiative"
Solution Driver	The characteristics of the solution provided by-the investment being analyzed which helps make possible the identified Benefits.
Sponsor	An individual who is the main driving force supporting a Program or Project.
Stage-Gate	A stage gate is a point in time where a decision is made to commit funds to the next set of activities on a Program or Project, to stop the work altogether, or to put a hold on execution of further work.
Stage of Maturity	See "Maturity Model".
Stakeholder	A person, or group of persons, who has a vested interest in the impact of the investment being considered. Typically stakeholders are the evaluators, recommenders, and decision makers of the investment under consideration, and future users (and/or beneficiaries) of the investment.
Stakeholder Alignment	Cause-and-effect connection to enterprise strategy and other initiatives. Can also refer to a consistent understanding of "what" and the "why" of an initiative/undertaking.
Strategic Benefit	See "Intangible Benefit".
Storytelling, ROI	Explanation of the Benefits of a Change Initiative to Stakeholders, primarily using narratives that personally resonate with the audience. See also "Case for Change".
Subject Matter Expert (SME)	A person who has substantial knowledge of a particular topic. Often called upon to inform/advise others on the topic.
Subjective Benefit	See "Intangible Benefit".
Sunk Cost	Costs that have already been incurred and cannot be recovered. They are independent of any other costs that may be incurred in the future.
Tangible Benefit	A measureable (in monetary terms) business improvement resulting from an outcome perceived as an advantage by one or more Stakeholders. Also called Financial Benefits.
Task	A piece of work, usually as part of an Activity (adapted from Dictionary.com).
Total Cost of Ownership (TCO)	A calculation including all capital and non-capital costs incurred over the lifetime of the investment.
User Adoption	The usage of the Capabilities of a Change Investment by the people for which it is intended. Low User Adoption is a major risk to Value Realization.
Value	The relative worth, merit or importance of an investment to an organization, as perceived by its key stakeholders. Often expressed as total life cycle Benefits net of related costs, often adjusted for Risk and the time value of money. Value =( Benefit - Cost) x Risk. A common example of Risk is low User Adoption.
Value Alignment	Cause-and-effect connection of an investment with strategy, objectives and value creation goals.
Value-based Change Management (V-CM)	Change Management (CM) activities which have Value achievement as a primary focus. Examples include conducting stakeholder analysis emplacing value expectations, CM resource allocation driven by value priorities, and communications focusing on value progress and achievement. See "Change Management".
Value-based Selling (VBS)	Proactive sales strategies which emphasize customer value, rather than feature-function selling. VBS includes (a) focus on value communications at executive as well as operational levels, (b) orchestration of pre-sales, marketing and change management around value messaging, (c) emphasis on business case analysis with customer-specific quantification of benefits, and (d) articulation of how seller will help assure customer will achieve value expected.
Value-based Training	Training activities which focus on enhancing skills and imparting knowledge related to Value Discovery, Value Enablement and Value Realization.
Value Delivery	The process of implementing a Change Initiative which emphasizes Value Realization.
Value, Digital	See "Digital Value".
Value Discovery Phase	The first of three primary phrases of the Value Life Cycle. The Value Discovery Phase focuses primarily on establishing investment scope, its Business Case, and the roadmap for implementation. For buyers, this phase begins with the analysis of investment alternatives, and ends with the decision regarding which investment option to implement, and how. For sellers this phase begins with initial contact with a customer and ends when the deal is closed, or discontinued. See also "Value Enablement Phase" and "Value Realization Phase".
Value Engineer	A practitioner dedicated to discovering potential value of an investment, and/or extracting value from an investment's implementation. Sometimes called a Value Manager, or value advisor
Value Enablement Phase	The second of three primary phrases of the Value Life Cycle. The Value Enablement Phase focuses on the implementation of the Change Initiative. This Phase begins with the finalization of the implementation plan, and ends when the implementation completes its Go Live. See also "Value Discovery Phase" and "Value Realization Phase".
Value Flow Map	Similar to a Benefits Map, except possessing stricter procedures for defining and communicating value.
Value Gap	The difference between a customer's desire that a seller focus on the value they provide, versus a seller's emphasis on features and functions of products and services.
Value Leakage	Lost Value from a Change Initiative which could have been realized, but was not due to preventable causes.
Value Life Cycle (VLC)	The duration of value activities related to a technology-enabled investment. The VLC has three phases, Value Discovery, Value Enablement ('implementation") and Value Realization (post-implementation).
Value Management	Management practices focused on value-focused methods, processes, and measures related to the three phases of the Value Life Cycle, namely Value Discovery, Value Enablement and Value Realization. See also "Value Governance".
Value Management Office (VMO)	For buyers, this function manages investment and service portfolios, including assessing and advising on investment opportunities and business cases, value governance/management methods and controls, and reporting on progress in sustaining and creating value from investments and services. For sellers, this function sets the strategy and oversees the execution of Value-based Selling, Value Marketing and Value Training activities.
Value Manager	See "Value Engineer".
Value Mapping	A set of methods for overlaying different kinds of information onto a Value Map for communication, planning or analysis. See also "Benefits Map" and "Value Flow Map".
Value Marketing	Marketing activities which have value articulation as its primary focus.
Value Messages	Communications occurring during the Value Life Cycle which emphasize ways by which a Change Initiative can achieve value, and why. Value Messages are an especially essential ingredient of Value Marketing.
Value Mind-set	A Mind-set of managers, employees and Stakeholders focused on optimizing value results from Change Initiatives. See "Management Mind-Set".
Value Product Marketing	Product marketing which focuses on articulation of value.
Value Proposition	An explanation of value to be expected by a customer when implementing a proposed Change Initiative.
Value Realization	The achievement of Value from a Change Initiative.
Value Realization Phase	The third phase of the Value Life Cycle. This phase is post-implementation and focuses on operations and achievement of expected Benefits.
Value Selling	See "Value-based Selling".
Value Story	Communication of Benefits available from a Change Initiative, explained to Stakeholders using narratives that personally appeal to key stakeholders.
Weights	The attribution of share of Benefit given to the proceeding outcomes or initiatives
Weighting and Scoring	A technique that involves assigning Weights or criteria, and then scoring options in terms of how well they perform against those weighted criteria. Weighted scores are then summed, and can be used to rank options.
What-If	A set of Scenarios that are modeled to determine potential Business Outcome.