Business value is a popular term from the economic and business sciences. BVOP transformed this idea and created a modern and practical approach for adding real business value to projects, products, and whole organizations by following simple examples.
Ideas for adding business value in organizational project management and product development practices
The following article shows examples of business value-added created by BVOP (Business Value-Oriented Principles Ltd.). The article explains some of the topics.
For each of the top 20 BVOP Business Value Added Examples for each topic, we describe what would be required to achieve such a result.
More ideas for managing business value can be found here: Examples of Business value-added for organizations, projects, and products
Organizational culture provokes people to be proactive
Organizational culture provokes people to be proactive, to contribute, to share and to be aware of the business goals of the organization. contribute to the organization; in addition to being a leader, it is important to have clearly written workflows that cultivate the organizational environment and provide clear guidelines for the work being done.
Modernization and innovation.
The requirements for achieving such a result are the company to be willing, to have the means to invest and to hire the appropriate specialists. Innovations can be of different types – they can relate to products, services, processes and business models. It is important to be done by people who have experience in the field and desire.
People in the organization show respect for each other and work productively
Selecting this person is crucial to me on this topic. In order to show respect for each other on the one hand, it is important to be a specialist, so when designing a project, individuals can present themselves as gears – everyone needs to work to have movement. In order to be productive, they should be well motivated. Good motivation often refers to financial incentives, but not always – sometimes we talk about a good team, a good spirit, a good environment, respect for everyone.
The number of people leaving the organization is limited to a minimum.
To avoid human flow in a company is to provide suitable employees. The selection must be made in such a way that it can meet both the requirements of the organization and the products it produces, as well as what the organization gives back – the financial incentive, the environment, respect for the individual.
Conflicts and negative environments are minimized.
The definition of conflict is the absence of agreement between two or more parties, which may be specific persons or groups. In order to resolve the conflict, it is necessary to find the cause of the conflict. Often, poor communication leads to conflict – in such situations, it is important to improve communication. However, in the presence of conflicts, conflict management is applied. In open communication, conflicts and negative environments are minimized.
The image of the organization increases
The image of an organization can be external and internal. The external image is easier to grow because it is based on the success of the organization and, when the projects are successful, the external image grows.
The external image is the so-called reputation. In my opinion, the internal image is more difficult to manage and improve. To strengthen the internal image, the following approaches exist – complete and correct information to be transmitted vertically from management to associates, an atmosphere of trust and support, working conditions that are safe and employee-oriented, decent pay, employee satisfaction with what has been done. work, absence of conflict or minimizing, pride in the organization and the image of the organization.
Everyone in the organization is constantly improving their personal and professional skills.
Improving the personal and professional qualities of each employee is essential – this is the so-called human resources development. An organization develops only if its employees grow. It is no coincidence that there are programs, even to the European Union for continuing education. For this purpose, it is necessary to develop training for employees on various topics – both professional and soft skills.
Team members look for and remove obstacles without waiting for management to do so.
This goal can be difficult to achieve because it depends on the personal motivation of each team member. Motivation is a process of pushing yourself and others toward an activity that leads to the achievement of personal and organizational goals. Every employee should understand that helping an organization help itself to achieve its own goal is an increase, greater financial incentive, better conditions and more.
Management and team members work together to streamline processes and accelerate development time.
This goal can be achieved through good communication and good team management. Motivation is again important – it is important to achieve employee satisfaction in an organization, to set appropriate goals for them to fight for, and thus to be encouraged to work together with management to streamline processes and accelerate time to work. development.
Costs are managed and planned carefully.
Budgeting is a science that is not underestimated. Good professionals can usually estimate all costs, or at least most of them, and minimize unexpected costs. Project planning is a key term in budgeting and is the point at which all future expenditures should be indicated so that the budget can be allocated as well as possible. Costs and planning should be done by an expert (s) to achieve this goal.
Tools and the environment are constantly improving.
Continuous improvement is easily achievable at the request of the organization’s managers. Improvement can be expressed in a better office, better working conditions, better financial incentives. Improvement in tools can be expressed in better computers, higher-end utility cars, and more.
Avoid unnecessary documents, processes, and communications.
Improving processes and standard operating procedures in a company add are a priority. This also avoids unnecessary documents, processes, and communication. It is important to evaluate the processes and, when they can be improved, to make them happen. Generating unnecessary documents, banning processes, and impeding communication also have a demotivating effect on employees of an organization.
The root causes of problems, defects, and obstacles are analyzed, tracked and eliminated.
In order to achieve this goal, it is necessary to have a team involved in analyzing defects, obstacles, and causes of problems. If the team is small, the whole team does not have to deal with it, it may be a certain person – a certain role.
Quality standards are followed and implemented without significant waste of time and resources.
The monitoring of quality standards and project implementation, as well as the tracking of waste of time and resources, should be monitored by the project manager or management of an organization. A similar stage may exist when designing a project. See Quality control and quality assurance in Project Management and Agile practices
The fatigue is managed and teams do not spend too much time on trivial tasks. Tracking fatigue as well as dedicating time to a project is a task that management should perform.
To avoid overwork – management should take vacations, encourage, and limit hours of work per day. Teambuilding sessions are also an opportunity to unite the team and prevent overwork. The allocation of tasks is also essential in order to protect certain fatigue workers.
Documentation and requirements are created and maintained in an easy and convenient style so that everyone understands them easily and saves time from unnecessary discussions and misunderstandings.
Achieving this goal is easy to accomplish – it can be done through appropriate work processes that are clearly communicated to employees. At a time when there is a problem or process that is not clear – it should be resolved immediately. In order to maintain accurate documentation, the staff team should also be trained in detail and due diligence.
Meetings and discussions do not lead to a waste of time and always lead to desired results.
In order to avoid meetings and discussions leading to a waste of time, I can offer the following tips – first, the meeting must be led by a person, send a provisional agenda for each meeting, which may, except for items, include topics to be discussed, as well as approximate lead-time – this way each participant in the meeting will have the opportunity to prepare in advance and thus save time.
Product development focuses on the most important goals and needs.
In order for the development of a product to focus on the most important goals and needs, it is necessary that the project manager has planned this thing in advance and applied it in the design of the product.
All product results, concepts and versions are validated with real users and the risk of an undesired product is limited.
This depends entirely on the market check during the preparation of the project and the stage of preparation of the product. At these stages, concepts should be checked, results validated, made available to real users and verified.
Customer and customer satisfaction is steadily increasing.
Customer satisfaction depends on quality workmanship and speed – ie. adherence to timelines. Customer satisfaction is also about customer satisfaction. In order to achieve this, it is necessary to know the requirements from the beginning, to ensure good communication in the design of the project, both between the individual project staff and between the client and the contractor.
More articles related to adding business value
The PolicyMatters.net magazine has a detailed publication on the same topic: Managing business organizations and adding business value. An Agile Manager’s Guide to the Theory of BVOP.org You definitely need to read it.
More on the topic read on the article Business value in organizations and adding business value to projects and products published on EduWiki.me