Value management and innovation: A historical perspective and review of the evidence

Purpose – The purpose of this paper is to provide a holistic and comprehensive historical perspective of the evolution of value management, and to illustrate the impact that value analysis can have on innovation within organizations. Design/methodology/approach – A review of published material from credible sources describing the evolution of the value management methodology, and a desktop analysis of 35 documented value management case studies illustrating the role of value management in innovation. Findings – Published descriptions of the evolution of value management are incomplete and fragmented. A holistic and comprehensive historical perspective of value management as a value-adding methodology is provided. Mapped against a model for innovation, value management is shown to contribute substantially to innovation within organizations across a variety of contexts. Value management is currently evolving into a powerful approach to strategic planning. Practical implications – This paper illustrates the contribution of value management to innovation across a variety of industries and contexts. Originality/value – The paper provides a holistic and comprehensive historical perspective of the evolution of value management as a methodology, and demonstrates by mapping selected case studies onto a model of innovation impact, that the method is a powerful and versatile approach to obtaining innovative solutions to organizational problems.