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.