Background and Purpose of the EN 12973 Standard

The development of European Standard EN 12973 began in 1991 and involved the active co-operation of no fewer then eight European countries, each of which had different experience and standards in the use of Value Management. The European Commission recognized the power of Value Management in delivering competitive advantage to its users. They saw the diversity of practice as a barrier to its wider use. They commissioned a number of initiatives under their Innovation programme to promote its use. This effort resulted in a document that reflected best practice across all communities and economic sectors.

The standard represents a consensus of views and provides a benchmark of best practice. It does not purport to be restrictive or confined to any single commercial sector. It captures the essence of Value Management and provides a framework for its application. It does not advocate the use of any particular techniques but encourages the selection of the most appropriate methods to achieve the desired outcome

The purposes of this standard are to:

• establish a common basis for practice;
• provide guidelines for those involved;
• provide a basis for training and assessing competence;
• provide a benchmark for providers of value services;
• enable the certification of organizations;
• improve quality of service and stimulate innovation in delivery;
• improve communication through common terminology.

The standard primarily addresses three groups:

• senior Managers seeking to enhance value within their organizations and for their customers;
• people involved in its application;
• those involved in training and development.

The European Standard has replaced the National Standards in Value Management of the member countries.

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