Posted in Product

Business Value/ Vision

Business Value Levels

Strategy Deployment Levels (1, page 75)

VisionWhat do we want to be in 5-10 years? Value for customers, position in market, what our business looks likeCEO/ Leadership
Strategic IntentWhat business challenges are standing in the way of reaching our visionSenior leadership
Business leads
Product InitiativeWhat problems can we address to tackle the challenge from a product perspective?Product leadership team
OptionsWhat are the different ways I can address those problems to reach my goals?Product Dev teams
Strategy Deployment Levels

Business Value Types

Framework for thinking about value by Joshua Arnold (1, page 82)

Increase Revenue – Increasing sales to new or existing customers. Delighting or Disrupting to increase market share and size

Protect Revenue – Improvements and incremental innovation to sustain current market share and revenue figures

Reduce Costs – Costs that we are currently incurring, that can be reduced. More efficient, improved margin or contribution

Avoid Costs – Improvements to sustain current cost base. Costs we are not currently incurring but may do in the future

Type of Value (3)

Commercial Value: How much revenue or profit does this work result in?

Market Value: How many new customers will we be able to serve?

Efficiency Value: How much time or money will this save us?

Customer Value: To what extent will this decrease the likelihood that a customer leaves?

Future Value: How much will this save us in time or money in the future?

Project Rather than Product Management Smell

Build Trap (1, page 1)

Build Trap = organizations become stuck measuring their successes by outputs rather than outcomes. […] When companies stop producing real value for the users, they begin to lose market share, allowing them to be disrupted.

Progress Focus Powerful Questions (2, page 80)

For when a company is focusing on percent complete, status, or points rather than value

  • Could we achieve all of these measure and still be unsuccessful?
  • How are we validating assumptions about the user needs of the market demand?
  • What are we learning about value? How I this guiding our product decisions?
  • What has changed with our users or our competitive environment since we began this initiative?

Vision

‘Product Vision Box’ Exercise (4) (5)

  • Give your product team cardboard boxes and pens
  • Ask them to design the box for the product they would buy

Product Vision Venn Diagram

Balance multiple product attributes (6, page 172)

References

  1. Escaping the Build Trap by Melissa Perri
  2. Mastering Professional Scrum by Stephanie Ockerman and Simon Reindl
  3. What is This Thing Called ‘Value’? by Christiaan Verwijs (blog post)
  4. Fixing Your Scrum by Ryan Ripley and Todd Miller
  5. Product Box by Innovation Games
  6. Scrum: The Art of Doing Twice the Work in Half the Time by Jeff Sutherland

Explore more


Which direction?

Prioritising

Hypotheses

One thought on “Business Value/ Vision

  1. Pingback: Product Backlog

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