The following article is part of the self-preparation for the modern BVOP® Project Management Certification program.
Business Value-Oriented Project Management (BVOPM) is a set of activities and a style of project management with a focus on adding business value to the project management processes and practices, general productivity, outcomes, and waste reduction.
The BVOPM office may be independent, part of the BVOPGM office, or both may be considered as one, depending on the organizational structure and strategy.
Activities of the Business Value-Oriented Project Management
BVOPM accentuate on the following major activities:
- Documentations management
- Product management
- Scope management
- Planning
- Project risk management
- Time estimation
- Waste management
- Decisions making
- Execution
- Business value points measurement
- Attitude management
- Defects analysis
- Observation and optimization
- Program management participation
- Support
- Project closure
- Management of the Transparent board of project issues
Comments from the BVOP™ community on “Business Value-Oriented Project Management (BVOPM)”
Anastasiya Vodianova
It's amazing how many new activities are in BVOP's project management practices and how logical and necessary they are in day-to-day motions of the teams involved in the projects.
All activities are truly designed to optimize processes and achieve a balance between management and development, where teamwork, support from management roles, and focus on losses and problem solving quickly and responsibly is a key factor of the success of every project.
With so many activities, the modern project manager needs to be adequate, flexible, to carefully assess every activity, action, investment on time and effort. The most optimal use of BVOP's entire knowledge is a key factor in productive and conducive modern project management.
I recommend all beginners in project management to understand the real recommendations of BVOP - optimizing time, resources, nerves and quick, flexible and adaptive management.
Florence Tremblay
As opposed to all old project management training, BVOP implements decision-making as project manager activity. So far, project management has been based on well-defined and standardized steps and processes. In real life, however, projects cannot follow such controlled rules because they do not involve machines but people.
Working with people cannot be automated and controlled. There are many attempts to do so, but all are unsuccessful. People make spontaneous decisions. And this is not always bad. In most cases, decisions are taken at an intuitive level. The experience and the context of the situation is the most important element on which the project manager's action depends.
As a project manager, I work with people all the time. In my company, this is the nature of my work because our projects depend on many people. Before I worked as a marketing coordinator and again everything was up to my communication with people. We all had to make decisions every day. And these solutions were not based on standards and data. This is a completely different topic.
Liam James
BVOPM is a project management style that focuses on adding business value, improving productivity, reducing waste, and achieving better outcomes. Its activities include documentation management, product and scope management, planning, risk management, time estimation, waste management, decision-making, execution, measurement of business value points, attitude management, defects analysis, observation and optimization, program management participation, support, project closure, and management of the transparent board of project issues. The BVOPM office may be independent or part of the BVOPGM office depending on the organizational structure and strategy.
Business Value-Oriented Project Management (BVOPM) is a project management methodology that focuses on delivering business value as the primary goal of a project. This approach emphasizes the importance of understanding the business objectives of a project and aligning project activities and deliverables with those objectives.
BVOPM is a holistic approach to project management that takes into account the entire project life cycle, from initiation to closeout. The methodology incorporates elements of agile, lean, and traditional project management practices to create a flexible and adaptable approach that can be customized to fit the needs of a specific project.
Some key principles of BVOPM include:
- Business value is the primary goal of a project.
- Continuous improvement is essential for delivering business value.
- Communication and collaboration are critical for success.
- Projects should be adaptable and flexible to changing business needs.
- Project teams should be cross-functional and self-organizing.
The BVOPM methodology also emphasizes the importance of project management competencies and skills, including leadership, communication, stakeholder management, and risk management.
Overall, BVOPM is a customer-focused approach to project management that emphasizes delivering business value through continuous improvement and collaboration.
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Hello everyone, I was wondering with so many activities in the BVO Project management is it possible for a project manager to handle all this practices. This is really a very long list activities. Everything is amazing, so important and oriented to results. But I am not sure how we can handle all these things?
@Mateo Lons, If you work eight working hours a day, you have 160 hours a month to complete your activities and obligations. If they are not enough for you, then you have a problem with the management of your time. Having knowledge and being able to apply it is one thing, but being productive and organized is another.
Hi there, I would like to ask the following important questions for me: How can businesses ensure that their project management approach is aligned with their overall strategic objectives and maximizes value creation? What are some practical strategies and techniques that project managers can employ to prioritize business value and deliver tangible outcomes in their projects? Thank you
Thank you for your important questions. Aligning project management approaches with overall strategic objectives and maximizing value creation is indeed crucial for businesses. Here are some practical strategies and techniques that project managers can employ to prioritize business value and deliver tangible outcomes in their projects:
Define Clear Project Goals: Start by clearly defining the project goals and ensuring they are in line with the organization's strategic objectives. This alignment ensures that every project undertaken contributes to the overall vision and mission of the business.
Value-focused Project Selection: Prioritize projects that have the highest potential to deliver significant business value. Evaluate projects based on their alignment with strategic objectives, potential return on investment, and estimated impact on key business metrics.
Stakeholder Engagement: Engage key stakeholders throughout the project lifecycle to ensure their expectations are understood and incorporated. Regular communication and collaboration with stakeholders help maintain alignment with strategic objectives and provide valuable insights for decision-making.
Benefits Realization Management: Implement a robust benefits realization management process to track and measure the actual value delivered by the project. This involves setting clear metrics, monitoring progress, and making necessary adjustments to ensure value is maximized.
Agile and Iterative Approaches: Consider adopting agile and iterative project management methodologies that focus on delivering incremental value throughout the project. These approaches allow for flexibility, adaptability, and continuous feedback, enabling the project team to respond to changing business needs effectively.
Risk Management: Identify and manage project risks proactively. Conduct risk assessments, develop mitigation strategies, and monitor risks throughout the project. Minimizing potential risks helps protect the value and success of the project.
Continuous Improvement: Foster a culture of continuous improvement within the project team and the organization as a whole. Encourage learning from past projects, capturing best practices, and implementing lessons learned to enhance future project delivery and maximize value creation.
By integrating these strategies and techniques into project management practices, businesses can enhance their ability to align projects with strategic objectives and prioritize business value, resulting in successful outcomes and increased overall organizational success.