It is not just enough to develop a credible value model but telling a compelling is equally important. As mentioned many times earlier, value is very subjective and is perceived by each of the personas differently. Many times, it is not just the number but the benchmarks and the metrics in the value model that...
If business value calculation and modeling was indeed easier, why then the hesitation? In my travails as a business value advocate, I have seen leaders prevaricate on the notion of quantifying value. One of the main reasons is that they do not want to commit themselves to a number and get into trouble with their...
So far in our sanitized design thinking value modeling exercises, we have gone through vision alignment, benefits categorization, risks/costs identification. In this blog post, I will discuss the identification of KPIs, both benefit and cost related. Most organizations do not instrument their processes very well. It is easy to get the KPIs in the manufacturing...
After identifying the main benefit buckets for the value model, we need to focus on the costs (and risks) that will be incurred in implementing Project Nova. Typically, stakeholders look at costs and risks only from the perspective of their domain. Having a designed thinking session with all of the key stakeholders as participants enables...
Now that we have landed on the relevant aspects of Valuso’s corporate vision (relevant to Project Nova, that is), let’s start to identify the intended objectives for Nova. Using the following five vision statements developed earlier (see previous blog post) as an anchor, I developed an exercise that would elicit the needed benefit categories and...
In this series of blogs, I will walk you through a sanitized but actual design thinking value exercise conducted by one of my colleagues for a potential project titled “Nova“. If you recall my Design Thinking Recipe for Value Envisioning Workshop, I had indicated that I always like to begin with an ice-breaking exercise regardless...
The envisioning session for the value workshop typically consists of the following 5 exercises. These are usually fast-paced and take anywhere between 90 and 120 minutes. In virtual design thinking workshop settings, I find that the fast pace cannot be sustained for more than two hours without a break. I cannot stress enough the importance...
Over the next three blog posts, I will describe a recipe that I often follow with great success when I am conducting value envisioning sessions. They are: Pre-work that is an important part of the prep for the sessions. The exercises that are central to the workshop sessions. Following up with a value framework as...
One of the issues of Value model development is the fact that it takes too long to develop consensus. Different stakeholders have different agendas with different perspectives on value and cost benefits. Also, risks are not easily understood and accounted for in the value equation. Given the above, it is no wonder that business stakeholders...
The sponsor is constantly looking to endow the initiative and gain acceptance from other stakeholders. As part of the value “pitch”, she will need to not only present the factual information but also appeal to the individual perspectives of the key stakeholders. The factual information comes from the value measurement exercise. Appealing to the stakeholders’...