Lean Knowledge Management: The Problem of Value

Lean knowledge management is defined here as: getting the right information, in the
right form, to the right people at the right time. This definition highlights series of
practical problems for knowledge management in the built environment which, in
turn, have implications for lean theory.
In the terms of TFV theory, the problems that arise from getting information to the
right people at the right time are essentially flow (F) issues, but those that are
concerned with defining the right information and the form in which it is to be
delivered are more concerned with value (V). Here, we focus primarily on the
problem of defining right information.
A distinction is made between sociological 'values' and economic 'value', showing
how both relate to production theory. In the course of benefits capture and realisation,
both values and value are negotiated between project participants and other
stakeholders. It is argued that these processes are best conceived as conversations and
that this is implied in the basic formulation of V theory.
The notion of objectivity and its significance for these values/value negotiations is
examined. The problem of benefits realisation is considered and a set of hypotheses
are generated regarding the nature of an effective benefits realization management
process