Let s Review:

Let ‚ s Review:

• By completing step 4 of the financial value process you will have identified an intervention, meaning that you have chosen a focus for your value communication.

• If your intervention is viewed as an unconscious expectation, or a given, its true value can no longer be seen by your audience. All performance interventions become givens over time, especially if value communication is left unmanaged. This is known as the value slide.

• If your intervention is viewed as a conscious negotiable, you and your client or manager can discuss what is to be designed or delivered and set a reasonable approximation on its value. Many new projects or consulting contracts start at this level.

• If your intervention is an unknown expectation, your audience will be delighted with your contribution, and its financial value will be seen as very high.

• All unknown expectations slide into givens if unmanaged. The pendulum of how your audience perceives the value of the intervention swings abruptly from very high to very low in a relatively short period of time.

• Clarifying how your interventions are perceived is critical to understanding how to approach your audience when communicating value.

The next three chapters discuss the basics of continuous value management: what it takes to set baseline costs and benefits, define appropriate evaluation and feedback, and develop a quarterly communication plan.