“Value mindset describes the attitude of a project manager, which maximizes the value of a project, by making value-focused project decisions and by seeking and exploiting opportunities beyond the baseline that will lead to increased project value.” pmi.org
Value can be created from any part of an organisation or project. From bottom, middle or top. And the created values(previous blog) can be beneficial in many areas from like commercial benefit, operation efficiency, brand fortification even fosters the opportunity for sustainable expansion.
For this write up purpose, will be much easier to explain with smaller scope. Imagine, an organisation or project as a product, and we going to see how value can be created in all level of product. And we also going to categories them by bottom, middle and top layers. But wait, what is the mechanism used to differentiate the value layer?
A value which needs lesser effort to build, investment, management buy-in, quick fixes can be consider bottom value layer.
While the complexity of deliverable of value increase, will be recognised as medium and top value layer.
Effort of improve product efficiency and utilisation is the key focus on this benefit layer.
Optimise ETL to use lesser server resource. In cloud environment each processing unit comes with a cost. With the optimisation overall payment for cloud service providers can be reduced.
Subscribe for product auto patching. Ensures the product gets the latest features, security and fixes and improves uptime %.
Quick fixes. But still bring value in a way.
Innovation is the word of this layer. Make the existing product to evolve, producing better features to sustain market share.
Build feature in product to monitory product utilisation, customer behaviour, usage pattern. And use the data for creation of new features and rollout in next release.
Using continues improvement methodologies like
Source : qualaroo.com
Invention is the word of this layer. Creating new product to venture into new market segment to further increase market dominance.
Organisation at this stage should already have many lines of products serving the customer for many years. In other word, rich with customer data.
The data can be processed using different methods to generate a new product. Some of the common industry standard method to product new product
Measure how a product being used VS should be used,,, leads to new product software/hardware.
What product being used VS actual purpose of the product,, leads to new product software/hardware.
measure performance of product VS intended performance of product… leads to new product software/hardware.
Now replace the word “Product” to à organisation or project.
Like product value can be created in any level, orgnisation or project also can be generated from all layer. Irrespective of organisation/project layer or perspective.
The END. This topic writen in a seriesof 3 blogs. To get a full picture, previous 2 blogs link: