Value Thinking
Welcome to November. It is dark, rainy, and all the leaves have fallen to the ground. Is there any Value in November?
Well, maybe we have to find the right perspective of Value to understand it.
Associate Professor Krzysztof Wnuk has researched the concept of Value. And how we can use Value as a tool for prioritization. He is working with Value-Driven Requirement Management. To make it happen, they have defined the concept of "Value". Value is a problematic term. All of us have our own definition of Value. This makes it challenging to work with Value within an organization. And it is impossible to prioritize if we do not share the same picture.
BTH research team ranked as number 1 in Europe for Software Engineering, has built a Software Value map. A map for Values! The map helps us to define Value. It supports us in choosing and focusing on Value Delivery. It is a tool for us to use the Value in our prioritization.
Krzysztof shared the core of the Value Map and its four perspectives:
- Customer - What Value do we bring to the customers? How do they define Value of your product?
- Internal - We can add Value by evolving the internal work processes on the product.
- Financial - The product should bring you financial Value, not only revenues but, in some cases, investments.
- Learning and Innovation - A product development can be executed so that we can learn and prepare for innovation.
The Value Map will accelerate your work. It will help you prioritize better.
