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About the Business Value Oriented Principles

Business Value Oriented Principles (BVOP) is a modern extension for organizational, project, product and people management.

BVOP can be followed directly or modified depending on the needs and the general awareness of the management roles of the organizations. The BVOP enhance the organizational and human resources culture and practices and teach people proactivity and responsibility.

The prime goals of the BVOP are adding business value to products, services or processes, optimizing wastes and continuously improving and developing people and organizations.

Introduction

People, processes, priorities, and products are equally valued and no subject is more important than others. Adding, modifying, adapting, removing processes, roles or practices is accepted but the main focus on people, processes, priorities and products equality remains. Focus on people and products, for example, should not be sacrificed for profit, priorities, and processes. People, in turn, need to follow the organizational priorities, understand all the risks and develop responsibility and proactivity.

How the BVOP may help organizations, people, products and projects?

Following the BVOP may lead to the following benefits:

  • Increased productivity
  • Increased customers satisfaction levels
  • Increased employee motivation and satisfaction
  • Respect between roles and people
  • Organizational and processes transparency
  • Knowledge sharing
  • Improved skills
  • Improved organizational image
  • Improved organizational internal culture
  • Shorter time-to-market cycles

The four dimensions of the Business Value Oriented Principles

The four dimensions of the BVOP are people, processes, priorities, and products.

People

People are a major resource for organizations. They are fuel for the business engine and they influence the image of the organizations. They have needs, lives, emotions, and beliefs that may fluctuate.

The BVOP proclaim that people need to open and responsible and have to understand what they do very well in details.

People following the Business Value Oriented Principles need to investigate their negative feelings and reasons for dislike or low motivation. Human resources and management support them actively in this matter.

People have personal and work-related needs that may be needed to be satisfied. The organization provides support in satisfying these needs when they are related to motivation and productivity and resources are available.

People have self-awareness and constantly develop their personality and skills. They embrace guidance, coaching, teaching and respect time, resources, plans, and strategies.

People are contributors. They appreciate organizational support and at the same time, they are ready to contribute with skills and knowledge to the improvement of processes, quality of products, skills or information sharing. They have answers to the following questions:

How can I help the others around me?

How can I support the entire organization?

Processes

Processes may be considered as all formal events inside an organization that follow predefined and planned steps.

Processes may be very helpful and at the same time, they may endamage the organization if they are not optimized enough or their performance is poor. The damage may be invisible for the organization if key roles inside the organization, departments, and teams do not have enough awareness for potential losses in matter or productivity, efficiency, financial resources or quality.

An organization may waste time, financial resources or may suffer from too many employees leaving it. Processes may cause damage if they are not analyzed, optimized and suitable for the business model, production line, culture, inner and outer environmental factors, clients, products, contracts. Processes may be a reason for losing employees if people do not agree to them. Overwhelmed or poorly executed processes may even push clients away.

Organizations following the BVOP need to inspect their processes periodically and modify them if such a need is defined.

People inside the organization at all levels may need to observe and assess the current processes they are involved in, define gaps and flows so timely corrective actions are applied.

Obsessing too much with processes can lead to waste of time, resources and general stress, while not controlling the processes may lead to chaos and productivity deflation.

Priorities

Priorities are essential for every organization. Organizations following the Business Value Oriented Principles define their priorities carefully considering the other dimensions.

Everyone in the organization may need to understand the priorities of the organization.

Some of the priorities of the organizations may include:

  • Market expansion
  • Territorial expansion
  • Band image improvement
  • Employees satisfaction
  • Customers satisfaction
  • Third parties satisfaction
  • Profit increase
  • Products usage increase
  • Social impact
  • Political impact

Products

The classical understanding of the products of a company are the promoted public services or products and the internal acquired or developed assets not released to market or intended for internal usage.

The products are usually the primary source of income for many organizations and major assets requiring investments. Developing products may be a complex and long process that involves many professionals and skills and requires effort in activities and fields like markets and customers (users) research, testing, development, marketing, sales, procurement, supply, legal, financial.

The development process of a product usually complies with business needs, available resources, time, customers needs, technological constraints, quality standards. Trade-offs are needed in terms of investment, limitations, quality and customer expectations.

The product must generate sufficient revenue for the organization as planned. Its development time and resources are planned and limited and it has to meet consumer expectations at the same time.

The BVOP advises that products are being developed to meet the most important consumer needs before investing in additional features. This aims to release the products to real users quickly so analyzing results of early product versions can be performed and future planning to be more realistic. Parts of products that do not bring value to customers should not be developed.

The BVOP extends the understanding of organizational products and includes valuable resources, possessions or tools used by the organization. Software, databases, tools or anything that brings business value to the organization may be considered as products as well.

The products owned by organizations that add business value may have been created intentionally or unintentionally by the organizations, third parties or may be developed by employees for their own use.

Examples of internal organizational products may include:

  • Automated software or tools that speeds up processes or manufacturing or development.
  • Databases used by the organization for administrative or other business purposes.
  • Documentations used by employers or other related parties.
  • Open-source software created by employees.
  • Other acquired products or services used by the organization that adds value.

Products that have business value for any dimension may need additional support if they are useful for long term usage or if the products may add more value in a matter of efficiency, productivity, cost or time saving, quality.

Products and Projects

Products and projects have a common understanding in the context of the BVOP since the final outcome of a continuous effort on a project is the actual development of a product that is intended to be used by an audience.

A project is understood as all the initiatives and activities needed to develop, improve, or adapt a product or multiple products related and working together or split but with a common purpose.

The understanding of the product management in the context of the BVOP is the entire effort, all activities, and processes that are needed for creating a product intended to be used by an audience.

The primary goals of the product management roles in the context of the BVOP are:

  • Establishing research, design, development and test practices conformed to available resources, people, materials, time.
  • Collect realistic data for the needs of the intended audience of the product.
  • Validate all collected data, test prototypes and the product against the needs of the audience.
  • Creating the most valuable features of the product at the early stages and then creating secondary important features if the audience or other parties need them.

The understanding of the project management in the context of the BVOP is the entire involved effort, all activities, and processes that are needed for creating a product and its delivery to the intended parties.

The primary goals of the project management roles in the context of the BVOP are:

  • Completing the work on the product on time.
  • Completing the work and delivery with the estimated financial and material resources and the available workforce.
  • Delivering the product with expected quality levels.
  • Supporting product and delivery teams.
  • Optimizing processes and practices and eliminating wastes.
  • Delivering potential business value to all project activities.
  • Prevent project risks.
About the Business Value Oriented Principles
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