Designing Value Co-creation with the Value Management Platform

The Value Delivery Modeling Language (VDML) is an Object Management Group (OMG) standard for the analysis and design of value creation and value capture in enterprise operations. Although the VDML 1.0 specification was published in October 2015, little is known about the application of value modeling with VDML. We report in this paper (an earlier, unpublished version of this paper was presented at the 12^th International Workshop on Value Modeling and Business Ontologies, which was held in Amsterdam on 26–27 February 2018) on the practice of applying VDML for value co-creation design using the Value Management Platform (VMP) tool of the Dutch company VDMbee. Neither the VMP user guide nor the VDML specification prescribe how to perform value modeling. Therefore, we analyze value co-creation design with the VMP in a case-study of a low-cost carrier. By identifying, extracting, and making explicit the applied method of value co-creating design, we contribute to a better understanding of the practice of value modeling with VDML.