By Robert Stewart, CVS-Life, FSAVE, PMP, PMI-RMP – Director of Education, SAVE International
The Value Methodology Body of Knowledge (VMBoK) Committee is in the process of incorporating member feedback regarding the proposed changes to the Glossary of Terms. Approximately 33 members of SAVE International reviewed the content and provided their feedback and suggestions. The VMBoK Committee was delighted with the response which has been immensely helpful in guiding the development of terminology that is clear and concise. The professionalism, enthusiasm and helpfulness of this member feedback was remarkable and is being thoughtfully reviewed by the Committee. At this point, we are about halfway through the revision process and expect to have the updated terms within a few weeks.
This revised terminology will serve as the foundation for the remaining efforts which will focus on developing the core content of the VMBoK Guide. The VMBoK Committee has been working in close coordination with the SAVE Board of Directors, SAVE Certification Board and the SAVE membership at large on this effort and will continue to do so.
This is a very large effort and the current understanding is that all current standards and certification processes will remain effectively unchanged until the final version of the VMBoK Guide is adopted by SAVE and the Certification Board has had sufficient time to update the certification and examination materials.
It is important that everyone understand the purpose of the VMBoK Guide:
- The VMBoK Guide is intended to be a subset of the Value Methodology body of knowledge that is generally recognized as effective practice. ‘Generally recognized’ means the knowledge and practices described are applicable to most projects, products and processes most of the time and there is a consensus about their value and usefulness. ‘Effective practice’ means there is a general agreement that the application of the knowledge, skills, tools, and techniques can improve value if applied in a timely, and conscientious manner. Therefore, it is not intended to be a repository of all information that could be considered part of the Value Methodology body of knowledge in its entirety.
The takeaway is that the VMBoK Guide will be focusing only on essential knowledge that is broadly deemed necessary to be an effective Certified Value Specialist (CVS). It is neither possible or practical to include every known technique, and it is likely that some techniques that members use will not be included. This does not diminish their or prohibit their use in any way. In fact, it is the intent of the new continuing education philosophy adopted by the SAVE Certification Board to encourage the proliferation of other effective VM techniques as part of the recertification process.
Another key point that is worth emphasizing is that the VMBoK Guide is also intended to provide guidance on the use of VM techniques for a wide variety of applications. This includes the notable addition of applications to services and organizations. The majority of VM practitioners have not had significant experience with applications in these areas and one of the VMBoK Committee’s goals is to broaden the appeal and attractiveness of the Value Methodology to as large an audience as possible. Several of the VMBoK Committee members were selected explicitly because of their professional VM expertise in this area.
The VMBoK Committee looks forward to continued member engagement and feedback!
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