In our last Lucid Thought (#25), we considered the roles of risk management and value management in achieving optimal solutions to both business and project challenges. We concluded that optimal value is most likely to be achieved by a combined approach that systematically integrates risk and value in a ‘marriage’ rather than chancing a co-habitation that may favour one or other party. In our experience, the most likely route to optimal value requires skilled facilitators or project management practitioners, who are able to apply all the available tools and techniques but more importantly are skilled in selecting the right tools for the current situation. So what do we mean by all the available tools and techniques? Take a look.