Business value is a concept that concerns various economic and business disciplines. Today, the business value is already strongly mentioned in Agile development practices, project management, software development, and even Human Resources.
The following report demonstrates real examples of added business value in projects and organizations.
All examples are based on the 13 Business Value-Oriented Principles Ltd (BVOP, BVOP.org) Reference: Business Value, What is Business Value: Examples and definition https://bvop.org/learn/what-is-business-value/#section1
I will try to rank the 13 topics in order of importance, but I will note that if more importance is given to one element, then the others would be slightly neglected and would not function properly, so you should always balance is sought, so all points in order to exist are of great importance.
Behavior, skills, and maturity of employees
When employees have clearly expressed skills, qualities and know what needs to be done at certain times, they are qualified, then the work process goes without many obstacles. When we reach the so-called “maturity”, we will have the desire to constantly upgrade our knowledge and seek satisfaction from the achievement of new personal and professional goals. Reference: Examples of business value and business value-added https://wikipedia-lab.org/examples-of-business-value-and-business-value-added/
Organizational culture
As mentioned in the 20 points of added value, it is extremely important for people to know and be aware of the business goals of the organization. This contributes to better visibility and clarity. Reference: Managing business organizations and adding business value. An Agile Manager’s Guide to the Theory of BVOP.org https://www.policymatters.net/managing-business-organizations-and-adding-business-value-an-agile-managers-guide-to-the-theory-of-bvop-org/
Work processes
It depends on the company itself, but there can be strict, written processes that support the work process (especially for large companies), then people know who to turn to, what process to follow, and what needs to be done through “written laws” “. There are also cases of less written rules, such as work that requires more creativity, innovation, and changing environments, but again – less does not mean they do not exist, because if they do not exist, there will certainly be extreme confusion. , and this will not help the workflow at all.
Consumer and customer satisfaction
The more satisfied the customers are with the given product, the more it speaks for the company and its employees, which in turn leads to greater popularity and a high reputation (of course in the best cases).
Innovation
Nowadays, there are a lot of businesses and products on the market that are constantly in a “war for supremacy” because consumption itself is higher. My personal opinion is that every company should innovate in its products and works, to move in the pace of time, because this is the driving force towards profit and success. The same goes for the Project Management position – when you are inclined to more innovative ideas, it means that you also accept the opinion of others and are open to new adventures.
Human relations
Reduction of surpluses in the organization and among the teams (time, money, labor)
Relationships between business and people
Time to reach the market
Human Resources
Usability, usefulness, and value of the products
Shortened production processes
Total contribution
Organizational culture provokes people to be proactive, to contribute, to share, and to be aware of the business goals of the organization.
“As mentioned in the 20 points on added value, it is extremely important that people know and be aware of the business goals of the organization. This contributes to better visibility and clarity. ”
We need clarity, training, constant exchange of information, and news.
Modernization and innovation.
Lots of new ideas, fresh thoughts, young people who know how fast time goes.
People in the organization show respect for each other and work productively.
It requires education, humanity.
The number of people leaving the organization is limited to a minimum.
Stability, compromises, and conversations at various levels to the company to reduce conflict situations to zero.
Conflicts and negative environments are minimized.
“Stability, compromises, and talks at various levels to the company to reduce conflict situations to zero.” – Again
The image of the organization increases.
Satisfied customers, satisfied employees – well done, good advertising good image
Everyone in the organization is constantly improving their personal and professional qualities.
The more people develop themselves, the more the company will climb. We need training, team meetings and building, organized events, and the introduction of external techniques and knowledge.
Team members seek and remove obstacles without waiting for management to do so.
Faith and understanding on both sides, as well as a qualified team that knows what to do in difficult times.
Management and team members work together to optimize processes and speed up development time.
People need to be aware of what is going to support their work and processes. The Project Manager can easily navigate these processes.
Costs are managed and planned carefully.
A well-written action and monitoring plan.
The tools and the environment are constantly improving.
Continuous monitoring of the market and evolving technologies, businesses, etc.
Unnecessary documents, processes, and communications are avoided.
Optimization of work processes by involving new, better working methods of work and communication (online methods).
The main causes of problems, defects, and obstacles are analyzed, tracked, and eliminated. For example, the Scrum framework suggests retrospective meetings for the entire Scrum team, and obstacles removing from the Scrum Master role.
Continuous monitoring of problem points and therefore their prevention.
Quality standards
Quality standards are followed and implemented without significant loss of time and resources.
Optimization of quality monitoring by making a model for it.
Fatigue is managed and teams do not spend too much time on trivial tasks.
Burnout as a factor must be avoided, the more rested people are, the better they work. Task prioritization is required.
The documentation and requirements are created and maintained in an easy and convenient style so that everyone understands them with ease and saves time from unnecessary discussions and misunderstandings.
Remove as many obscure words, phrases, etc. as possible. “Friendly” text.
Meetings and discussions do not lead to a waste of time and always lead to desired results.
Regular meetings to discuss and use time in the most effective way.
Product development focuses on the most important goals and needs.
Monitoring consumer behavior and needs.
All results, concepts, and versions of the products are validated with real users, and the risk of an unwanted product is limited.
Marketing campaigns, direct and indirect communication with customers.
Customer and consumer satisfaction is constantly growing.
The better the market monitoring and product optimization, the more happy customers.
References
Business skills, management, and internal competencies and a sense of success
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Examples of Business value-added for organizations, projects, and products
There are 24 main examples of the added value of BVOP with a short explanation… https://mstsnl.net/examples-of-business-value-added-for-organisations-projects-and-products/