In development work, projects are the primary mechanism by which changes in state and behavior are brought about. Value cycles, which help organizations build a momentum for value addition, can maximize benefits.

1. The views expressed in this presentation are the views of the author/s and do not necessarily reflect the views or policies of the Asian
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Value Cycles for
Development Outcomes
Olivier Serrat
2014

2. On Value
For
consumption
or use, every
organization
strives to
provide works,
products,
services,
processes, or
methods of
delivery that
clients,
audiences, and
partners value.
Value is the
relative worth,
utility, or
importance of
something; it
is created by
solving a
problem,
upgrading
performance,
or reducing
risk and cost.
I conceive that the
great part of the
miseries of mankind
are brought upon
them by false
estimates they have
made of the value
of things.
—Benjamin Franklin

3. On Value Cycles
Value cycles are a conceptual framework for
continual evolution and learning: eschewing linear
processes, they help organizations build a
momentum for value addition, based on internal
(comparative advantage, competitive advantage,
and measures of organizational performance) and
external perspectives (value proposition, customer-
perceived value, and market-based measures of
performance).
For effect, values cycles must be integrated in
strategy—in most organizations, that is commonly
articulated by a vision, governing objective, priorities,
performance scorecard, commitment to sustainability,
etc.

4. Applying Knowledge in
Development Work
International development work is a knowledge-
intensive process: it is fueled by knowledge
solutions and knowledge services.
On the whole, projects (and programs) are the
primary mechanism by which changes in state and
behavior are brought about.
Projects and knowledge are thus mutually
dependent: to deliver development outcomes,
projects must be enriched by knowledge; by the
same token, new knowledge (that should then be
leveraged) must in turn be generated by projects.

5. The Project Cycle
In development
work, the seven
major stages of a
project are (i)
identification, (ii)
preparation, (iii)
appraisal, (iv)
approval, (v)
implementation, (vi)
completion, and (vii)
evaluation.
1. Identification
2. Preparation
3. Appraisal
4. Approval5. Implementation
6. Completion
7. Evaluation

6. On Value Cycles in Projects
From identification to
evaluation, projects
offer a wealth of
opportunities for
identification, creation,
storage, sharing, and
use of knowledge.
Other value cycles that
can exploit their
potential for benefit
exist: the Five-C Value
Cycle is one of them.
1. 5.
Communicate
2. Connect
3. Collaborate
4. Capitalize

7. The Five-C Value Cycle
At each of the seven major stages of a project, the Five-C
Value Cycle offers a way to enhance benefits with
constant small wins in works, products, services,
processes, or methods of delivery. Communication
engages stakeholders and their resources. Once engaged,
they are encouraged to connect and build relationships to
ensure a high level of collaboration. As desired outputs
are accomplished, the project team make certain they are
capitalized—that is, the promised benefits are delivered
to the intended beneficiaries. Successes are shared by
communicating widely. (Shortcomings are revealed too,
respectfully, to draw lessons, highlight possible solutions,
mitigate potential risks, and reduce future errors.)

8. The Five-C Value Cycle

9. Further Reading
• ADB. 2009. Value Cycles for Development Outcomes. Manila.
www.adb.org/publications/value-cycles-development-
outcomes
• ——. 2010. Showcasing Knowledge. Manila.
www.adb.org/publications/showcasing-knowledge
• ——. 2010. Harvesting Knowledge. Manila.
www.adb.org/publications/harvesting-knowledge
• ——. 2010. Seeding Knowledge Solutions Before, During, and
After. Manila. www.adb.org/publications/seeding-knowledge-
solutions-during-and-after

10. Further Reading
• ADB. 2012. Managing Knowledge in Project Environments.
Manila. www.adb.org/publications/managing-knowledge-
project-environments
• ——. 2012. Communications for Development Outcomes.
Manila. digitalcommons.ilr.cornell.edu/intl/266/

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