Reveal hidden keys and create outstanding results together using VES
Classical, methods for analysing value networks have been presented by Allee and Schwabe. These incorporate a mix of parameters including many that derive from Social Network Analysis. Resulting reports are packed with metrics, explanations, and charts for more than 50 network indicators including resilience, risk, stability, reciprocity, agility, perceived value. Their subsequent work has extended to a branch of analysis called "Predictive Analytics," and requires a "deep dive" into the underlying theory to explore how it is validated.
However, experience has shown that such comprehensive data collection and analysis can be overwhelming. Accordingly, we now recommend that focusing on a few critical factors at first, closely linked to the problem situation being addressed, to be both quicker in practice and more effective.
An early example of this simplification was given by Dr Laurence Lock Lee and Cai Kjaer in their 2008 paper "The Partnership Scorecard" which addressed just three factors: value, cost / risk, and an algorithm to compute "performance." Later in that year, in an assignment for Rolls Royce Marine, Meggitt selected a set of variables for each transaction comprising perceived: cost/risk to sender; criticality to receiver; value to receiver; value to network as a whole. These are readily assimilated by participants who have had no previous exposure to the approach.
During 2011, Martin Cleaver of Blended Perspectives, collaborated with Meggitt to create for on line use a prototype to support the value network approach. This includes special features that allow users to click on any element of the value network diagram and call up Roles, Deliverables and related transactions. Currently the system is set to allow scoring of each deliverable covering for both sender and receiver: perceived value; criticality; risk factor. The results are portrayed both graphically and in table form.
Currently (2012), an online system, with a different platform, is being created for release in the civil engineering and built environment sector.
Links to subsequent guidance will be posted here.
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