Steps in the Value Realization Framework

Building information modelling (BIM) tools and workflows, new procurements methods, and emerging management practices are being adopted on projects to overcome collaboration barriers and improve project performance within the architecture, engineering, construction, and operation (AECO) sector. Academic literature and industry reports recommend the use of collaborative procurement methods such as design and build (DB) procurement and integrated project delivery (IPD) when adopting BIM workflows. However, to date there are little operationalization and empirical evidence of the value realization potential when using BIM in conjunction to these procurement methods. This chapter draws upon five case studies of BIM-based DB projects to analyze and quantify the potential of value realization using clash detection as a use value. The results reveal potential hurdles inhibiting BIM from reaching its full potential. Accordingly, recommended changes to the current processes are suggested to facilitate BIM in enhancing value on DB projects.

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The transformation from value determination to value realization: the logical dilemma of the Okishio theorem

China Political Economy ◽

10.1108/cpe-06-2021-0006 ◽

2021 ◽

Vol ahead-of-print (ahead-of-print) ◽

Author(s):

Shengsheng Wang ◽

Bangxi Li ◽

Shan Gu

Keyword(s):

Social Reproduction ◽

Exchange Process ◽

Research Progress ◽

Content Type ◽

Surplus Value ◽

The Real ◽

Dialectical Relationship ◽

Value Determination ◽

Value Realization ◽

Rate Of Profit

PurposeDifferent from Marx's analysis of the dialectical relationship between the production and realization of surplus value, the Okishio theorem only shows one aspect of the contradictory movement of the total social capital, that is, the reverse effect of the realization of surplus value on the production of surplus value.Design/methodology/approachThe production of surplus value and the realization of surplus value are simplified into one process. This simplification eliminates the contradiction between the production and realization of surplus value, and the antagonistic contradiction between accumulation and consumption and the antagonistic production-distribution relationship in capitalist society are naturally covered up.FindingsTherefore, it cannot explain the actual expansion way of the falling general rate of profit as the historical development law of capitalism. Nevertheless, it should be noted that the Okishio theorem places the analysis of the general rate of profit back into the social reproduction model with department equilibrium, which points out the significance of wage income to the realization of surplus value and outlines the macro mechanism of the realization of surplus value reacting to the production of surplus value. It also strongly promotes the research progress of the law that the profit rate tends to decline.Originality/valueThe mistake of the Okishio theorem is that the exchange process in the labor market forms the real wage rate. It determines the production price of wage goods, which thereby determines that the production price of capital goods and general rate of profit, the production of surplus value and realization of surplus value are simplified into the same process, and only the value that can be realized is the real value.

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The Value Realization Cycle

The Value Imperative ◽

10.1057/978-1-137-59040-4_5 ◽

2016 ◽

pp. 57-72

Author(s):

Gerald G. Grant ◽

Robert Collins

Keyword(s):

Value Realization

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Comparative Study of IT Investment Management Processes in U.S. and Portugal

Handbook of Research on Information Management and the Global Landscape - Advances in Global Information Management ◽

10.4018/978-1-60566-138-4.ch021 ◽

2010 ◽

pp. 419-440

Author(s):

Susan A. Sherer

Keyword(s):

Large Scale ◽

Idea Generation ◽

Business Case ◽

The United States ◽

Corporate Boards ◽

Investment Management ◽

It Investment ◽

Management Processes ◽

Business Line ◽

Value Realization

This article investigates IT investment management processes in the U.S. and Portugal. In Portugal compared to the United States, we find less involvement of operational business users, less formalized processes, more bottom-up generation of ideas, less focus on business metrics other than financial ones, and more highly involved corporate boards. We develop a framework for understanding IT investment that includes five stages: idea generation, business case generation, investment selection, project implementation, and value realization. Several of Hofstede’s factors are used to explain national cultural differences in each of these stages. Cultures with high power distance involve fewer business line employees in idea generation, fewer operational business managers selecting investments, and more centrally managed project implementations. In cultures with high uncertainty avoidance, fewer large scale strategic project ideas are generated and there is a stronger emphasis on financial criteria in information technology investment selection.

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Value Co-Creation in Faculty-Led Study Abroad Programs

Handbook of Research on Study Abroad Programs and Outbound Mobility - Advances in Higher Education and Professional Development ◽

10.4018/978-1-5225-0169-5.ch013 ◽

2016 ◽

pp. 325-348

Author(s):

Sven Tuzovic

Keyword(s):

Study Abroad ◽

Intercultural Competence ◽

Research Approach ◽

Resource Integration ◽

Global Learning ◽

Study Abroad Programs ◽

Operant Resources ◽

Value Realization ◽

University Experience ◽

The University

Study Abroad (SA) education has become an increasingly important educational program for teaching global learning and intercultural competence, maturity, and sensitivity of students. Since the price tag attached to SA programs can be daunting, the question arises how value can be defined and, more importantly, how value is created. Some scholars have used the principles of service-dominant logic proposed by Vargo and Lusch (2004) to suggest that students should be engaged as an active co-creator of the university experience. Utilizing a qualitative research approach this chapter proposes that the value process of SA programs consists of three stages: (1) value proposition and potential; (2) resource integration and value co-creation; and (3) value realization evaluation. This study identifies key roles of the participants and their operand and operant resources that guide the value co-creation process. The framework provides faculty with a way to understand, adapt, and manage resource integration and influence students' SA value realization processes.

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The Secret Success of a Global ERP Champion

Enterprise Resource Planning for Global Economies ◽

10.4018/978-1-59904-531-3.ch006 ◽

2011 ◽

pp. 94-107 ◽

Cited By ~ 2

Author(s):

Denise Potosky ◽

Bruce Olshan

Keyword(s):

Business Performance ◽

Business Processes ◽

Transition Period ◽

Resistance To Change ◽

Integrated System ◽

Erp System ◽

Seamless Transition ◽

New Business ◽

New Perspective ◽

Value Realization

The role of a global ERP champion is to guide a business through process transformation and ERP system implementation. A “change curve” model that depicts the “Valley of Despair” illustrates what a champion can expect and do to initiate new business processes, to address resistance to change, and to promote the advantages of a globally integrated system. The model, which anticipates a drop in business performance during the transition period, encourages change leaders to minimize time spent in the valley, to minimize the depth of the valley, and to maximize the slope of the value realization path out of the valley. A new perspective, drawn from experience, redefines a successful global ERP implementation in terms of a seamless transition to a new, integrated, efficient global system.

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