Education and Simulation of Best Value in an International Academic Setting: A Case Study

12 May Education and Simulation of Best Value in an International Academic Setting: A Case Study

By Kristen C. Barlish, Kenneth T. Sullivan, Alberto De Marco

October 2012

Abstract
An innovative education and simulation of the Best Value (BV) business model was carried out in a Project Management (PM) course at an International Engineering University in Italy.  The BV model has been applied in a variety of organizations and projects to minimize risk and increase performance; however, its use in education at the University level is less explored.  The BV educational sessions held in the PM course revealed that BV is instructive because it educates students regarding PM concepts via an industry-applied model, and is transformational as it promotes a change in perspectives of the students and the instructors.  The simulation was a course group project that utilized the BV concepts and tools, which revealed that BV is flexible because students realized their increased knowledge via the project, the project was easier to administer as compared to previous years, and it was multicultural as it was easily used in a course with individuals from numerous cultural backgrounds.  The performance information of the course revealed that, compared to previous years, the project was clearer, evaluations saved time and limited subjectivity, and the students’ performance increased overall.  The BV business model contributed to positive transformative learning experiences.