Abstract
Program management is expected to manage the created values by past projects to take over to launching projects and on-going projects in the program. However, the continuity value created by the project (such as knowledge, experience, and skills, etc.) is intangible value. Therefore, the value is accumulated in the virtual space in the individuals’ head involved the project. The authors recognize the connecting network among the multiple virtual spaces as Itami’s ‘Ba’. The project value succession in programs is to transform the project value to the fundamental elements of the ‘Ba’ (agenda, semantic interpretation code, information carrier, solidarity desire) and to hand over the transformed project value to another project organizations. In this paper, the authors discussed and described the structure and process of this value transformation.