What is a project? It is often stated that value management can only be applied to projects therefore knowledge of what constitutes a project is fundamentally important. A construction project is an example of one of the larger (financially and physically) projects which an organisation or a person will undertake. This discussion addresses the following questions: 1. What is the definition of a project? 2. Is the guy in Pizza Hut making pizzas engaged in projects? 3. What about the guy restoring a classic car? 4. Or finally the guy emptying parking meters of money? Do you agree that value management can only be applied once we have defined a project? What is the difference between strategy, programmes and projects? Discussion Topic 4 Value is variously expressed; project value, customer value, corporate value, etc. Consider an object (note a physical object not another person) which is of special value to you and then express why it is of value. Consider a major company (one of which we will all be familiar) and consider its publically portrayed corporate values. Finally consider how your customer values have changed over time. Also analyse differences in perceptions of members of the group.
