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

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.

Keywords: best value, business model, international, simulation, education.