The value target is the point at which your client receives maximum value for the assets installed in exchange for the capital he chooses to deploy in his project efforts. The value target may be the most expensive option or the least. In finding the value target for a client it is imperative to understand his needs, perceptions, as well as available budget. This is not always an easy task given the many different types of clients, industries, and construction contracts. But it forms one of the fundamentals of project success.
Follow some basic principles.
Study and understand your client.
Dont waste your clients money overengineering systems, rather build in as much flexibility and scalability into your systems as possible.
Begin with the end in mind, as they say. Envision the project completed and what characteristics might provide the most value to the client. How about 5 or 10 years later?
Be open to suggestions. Dont get hung up doing things only one way.
Be neutral. Avoid including personal wants. What you want out of the project is likely of no importance to the client.
Ask questions that will help your client better understand your client’s decisions. Present clear options.
Understand the present and long-term costs of various decision paths and communicate those to your client.
Spend money where it will get used (or valued) the most.
Remember that quality costs less in the long run. Saving money doesnt always lead to the greatest value.
Most importantly…….Treat your client’s money as if it were your own.