Inclusive Value Measurement (IVM) - Explained
Written by J. Mance Gordon
Updated at April 22nd, 2024
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What is Inclusive Value Measurement (IVM)?
Inclusive Value Measurement, proposed by Prof. Philip M'Pherson, is a rule-based mathematical model of multidimensional human-valuation (free from subjectivity) that can be keyed into a wide range of applications in business, public sector, and engineering.
With Inclusive Value Measurement, all aspects of value can be measured, combined, integrated and managed, including intangible assets and processes - in a way that is valid and reliable.
Inclusive Value Measurement can be used to:
- Optimize Value for Money for businesses, services and projects.
- Manage Cost-Benefit Analysis and life-cycle cost-effectiveness design projects.
- Account properly for intangible value, such as: intellectual capital, reputation and information.
- Establish the monetary equivalent of value contributions from intangible assets.
- Provide a modeling environment for strategic decision-making and managing complexity.
- Conduct and visualize complex trade-offs between costs and benefits.
- Serve as a valid measuring instrument for business value.