Abstract
AbstractThe Value Engineering (VE) Methodology is an effective tool for business or strategic planning. While there are many viable strategic planning processes, the “Balanced Scorecard” approach (formally developed by Robert Kaplan, PhD, and David Norton, PhD), is highlighted here using VE and function analysis to develop strategy maps and scorecards. As part of the VE Methodology, Functional Analysis System Technique (FAST) diagramming offers an integrated approach and structure to strategy map development by formulating a cause and effect relationship and establishing the “how” and “why” behind the strategy map. By holistically utilizing the VE Job Plan, one is able to move from strategic thinking all the way through to measurement and execution of a strategy.
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