A key component of the value model is the list of benefits attached to the intended project or initiative. In general, the benefit statements are very easy to articulate but the “value” of the value model lies in how we plan to measure and track these benefits. In a typical model, every benefit statement needs...
Business value is generally defined as the net benefit of a course of action of an enterprise. In this context, an action usually manifests itself as a program, project or an initiative. Obviously, since the potential value of a “possible course of action” cannot yet be realized, we will have to simulate it to help...
When one is explaining value modeling to a CFO, you want to focus on the main things: the value proposition of the organization, how you calculated the metrics, what metrics did you use, etc. So how do you keep the value propositions into easily understood dimensions that are generally applicable to companies across industries. I...
Despite all the hoopla about IoT, monetization has not been easy. Companies are still discovering how to make money off of this latest phenomenon. Currently, monetization models exist (as described in the previous post) and new ones are being developed. However, quite a few challenges need to be overcome before enterprises view this as a...
Why do we need to have a value conversation? Is it not enough to produce great deliverables and services and let the receiver decide on how useful they are to him/her? Unfortunately, it is not. Oftentimes, customers are convinced of the usefulness of a service they have received but are not able to fully articulate...