The following business value examples are created by BVOP (Business Value-Oriented Principles) and demonstrate how business value can be increased for a project, product, or entire organization.
This article explains some of the key examples of business value from BVOP’s original publication.
13 topics of business value
- Consumer and customer satisfaction
- Employee behavior, skills, and maturity
- Relationships between business and people
- Human relations
- Organizational culture
- Time to reach the market
- Usability, utility, and value of the products
- Total contribution
- Reduced production processes
- Reducing organization and team surpluses (time, money, work)
- Human Resources
More on the topic
Business value is an economic term, but nowadays there is a practical application for companies, projects, and products being developed.
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…
An Agile Manager’s Guide to the Theory of BVOP.org
Business value is a concept of economics and business disciplines that gives an abstract explanation of essential activities in business processes.
Delivering business value: The most important aspect of project management
20 examples of business value-added
Organizational culture provokes people to be proactive, to contribute, to share, and to be aware of the business goals of the organization – To stimulate events that will unite teams and enhance the skills of employees. To stimulate proactiveness and to follow the company culture and rules. To hire people who share the views of the company.
Modernization and innovation – Maintain the level of qualification of employees by sending them training. Create an R&D department that prototypes through new technologies and describes how they could be integrated into our current projects.
People in the organization
People in the organization show respect for each other and work productively – By organizing events such as team building, they can serve to unite the team. Annual meetings with the presentation of products by each team to the whole company would elevate the atmosphere and increase their respect for each other after presenting the achieved results.
Employees of the organization
The number of people leaving the organization is limited to a minimum – When the company makes sure that each of its employees is maximally satisfied with their conditions and work. This can be achieved through regular feedback meetings, bonuses, and additional social packages. His career aspirations should also be taken into account.
Conflicts and negative environments are minimized – External coaches can be hired to train soft skills among employees. Organize outdoor events or sports events to relieve tension and make friendships outside the work environment. Teams can organize dinners with the co-op team.
The image of the organization increases – When the products delivered to customers are of sufficient quality and they are satisfied, the image of the company in its industry will inevitably be good. The feedback from the employees also contributes to the glory of the company guild.
Everyone in the organization is constantly improving their personal and professional skills – If the company has a career matrix and employees are aware of where they are and where they can go, it will be a motivation for them to develop. A certification program can be created to allow each employee to upgrade their skills. Employees who achieve very good results are incentivized with bonuses or promotions.
The team members
Team members look for and remove obstacles without waiting for management to do so – When employees are satisfied with the terms the company provides them, they will do their best to pull it up with them. Creativity and self-initiative can be encouraged by leadership and given by example.
Management and team members work together to streamline processes and accelerate development time – Regular team retrospective meetings of leadership sprints should be organized to discuss issues that have occurred over the past sprint. This way, each subsequent sprint will not suffer from repetitive obstacles and process optimization.
Costs are managed and planned carefully – Prior to the start of each project, indicative budgets should be drawn up based on the project life cycle. The reports should be reviewed and the stages at which the savings could be saved should be optimized.
Tools and environment
Tools and environment are constantly improving – Investing in better equipment. A program can be created to scrap old equipment and buy new equipment.
Unnecessary documents, processes and communications are avoided – When automating documentation and administration processes, this will speed up employee work.
The main causes of problems, defects and obstacles are analyzed, tracked, and eliminated – Analyzes of past sprints and traces of problems encountered and their elimination.
Quality standards are followed and implemented without significant loss of time and resources – specialists are hired to test the products of the various and iterations of the sprints and fix the bugs on the go.
Working hours and workload
Overwork is managed and teams do not spend too much time in trivial tasks – Project managers monitor the diversity of tasks on the part of employees. Human resources are organizing events that could support team disbandment.
The documentation and requirements are created and maintained in a simple and convenient style so that everyone can understand them easily and save time from unnecessary discussions and misunderstandings – Special staff is hired to handle the creation and maintenance of the technical documentation.
Meetings and discussions
Meetings and discussions do not lead to a waste of time and always lead to desired results – Setting up problems during meetings and setting their duration, during which brainstorming should be done to suggest possible solutions.
Product development focuses on the most important goals and needs – In the preliminary preparation of the life cycle of the task is divided into main parts to work on and to separate the sprints.
All product results, concepts, and versions are validated with real users, and the risk of an undesired product is limited – the final product is tested in real-world conditions before being marketed, with appropriate outsourcing.
Customer and Consumer Satisfaction
Customer and Consumer Satisfaction Increases – Searching for feedback on each product before and after completing the assignment. In this way, the shortcomings can be tracked and improved in future versions.