Skip to main content
Get a FREE
BVOP® Certified Project Manager trial exam
Join the modern BVOP® Agile teaching $ 0.00 trial exam fee. Free self-study Get a FREE Trial
Get Certified

Business Value-Oriented Priorities

Organizational Priorities in the Business Management of the Organizations

Share on Linkedin Facebook
Organizational Priorities in the Business Management of the Organizations

The following article is part of the self-preparation for the modern BVOP® program.

Every business organization needs a clearly defined list of goals and priorities. These priorities need to be defined carefully and prioritized based on the strategies of the organization and its mission. The future of an organization is based on current activities and how they are executed.

  1. Cost management
  2. Optimizing financial leverage
  3. Bond rating
  4. Optimizing budget
  5. Diversify revenue streams
  6. Value versus cost
  7. Cross-selling
  8. Partnerships
  9. Innovation
  10. Customer focus
  11. Workplace safety
  12. Skills improving
  13. Image improving
  14. Investing in tools
  15. Growing an internal positive atmosphere 
  16. Transparent board of organizational issues
  17. Understanding and aligning with priorities

General priorities may include:

  • Cost management
  • Optimizing financial leverage
  • Bond rating
  • Optimizing budget
  • Diversify revenue streams
  • Value versus cost
  • Cross-selling
  • Partnerships
  • Innovation
  • Customer focus
  • Workplace safety
  • Skills improvement
  • Image improvement
  • Investing in tools

Cost management

Planning and managing costs is an essential activity that may require careful budgeting and allocating financial resources for planned projects, investments, or other initiatives. The organization may try to predict impending expenditures or to survive unexpected or challenging periods.

Optimizing financial leverage

Financial leverage describes how much of an organization's assets or investments are self-funded and how many come from borrowed funds (loans, bonds, etc.).

If an organization uses mainly its own funds, it may be unsuited for larger initiatives. Using mainly borrowed funds is a high risk.

Organizations need to decide strategies, priorities, and manage risk. The borrowed funds are used only for increasing their own capital or for equity. Optimizing financial leverage may be related to optimizing internal financial resources.

Bond rating

The bond rating indicates the credit quality of a bond. It helps potential investors to decide whether to invest in a company or not. If an organization prioritizes its bond rating, this may be related to optimizing financial resources.

Optimizing budget

Optimizing budgets may be a general goal and a priority for a business organization and it may not be related to any financial leverage optimizations or bond rating improvements.

Diversify revenue streams

An organization may decide to receive revenue from multiple sources or products and services. 

This may require acquiring or developing additional products or services and typically calls for investments.

Value versus cost

Sales initiatives focused on the customers and their understanding of the product or service and the way prices match their expectations.

Cross-selling

This may include the strategy of selling more products to the same customers.

Partnerships

An organization may focus on establishing close partnerships with their clients or other organizations. This is a typical priority that occurs when designing solutions are dependent on customers' participation.

Innovation

An organization may need to differentiate its products or services by investing in innovation. This is usually related to investment in research and development (R&D), tools, environment, analysis, tests, and more, attracting great employees, and establishing a good reputation.

Customer focus

Customer satisfaction and excellent services may be critical for a business. Customer retention and marketing initiatives may be a priority if the organization depends on its existing customers.

Workplace safety

Authorities may require workplace safety, or this may be an organizational decision. This requires the focus not only from the business (the organization) but from all the employees as well. Training, equipment, and policies may be needed.

Skills improving

Investing in employees' skills may be a priority and an objective for organizations when they rely on highly skilled teams.

Image improving

Image may be important when organizations request an investment, need to extend markets or attract quality employees.

Investing in tools

Equipment and tools may be of high priority for a business, especially when they relate to manufacturing, procurement, development, or training.

Without such priorities and planned resources, the organizations may not be stable for the long term. All BVOP office representatives and key roles need to be aware of the current organizational priorities, and why the organization takes or does not take particular actions, investments, or directions.

The BVOP suggest additional and necessary priorities on which organizations need to focus:

  • Growing an internal positive atmosphere 
  • Managing organizational issues

Growing an internal positive atmosphere 

Positive attitude, confidence, and calmness are equally important for both people and businesses.

Confident and positive people are more productive, and bigger production rates increase profit and image. Business initiatives are developed faster.

Stress and fear need to be reduced and managed, and everyone should act proactively without fear of being penalized verbally, formally, informally, financially, or in any other way.

The organization creates and provides a positive atmosphere with the support of all offices.

Transparent board of organizational issues

The BVOP introduces the transparent board of organizational issues as a tool for managing and solving internal or external problems. It may be a list of current organizational, structural, management, or supply issues that reflect on image, productivity, morale, innovation, or other topics important for the organization.

It is a regularly updated list, and its items need to be prioritized.

The transparency of the list provokes a fair and clear definition of problems. Multiple organization management offices and key roles have access to the list and update it when needed. These can be interested parties such as C-Level positions, portfolio and program directors, human resources directors, and other roles in the organization that can support its productive management.

All offices, executives, or key roles managing the transparent board of organizational issues should commit to solving the prioritized problems (from top to bottom). If one at a top position cannot be processed or resolved at a current stage, the interested parties focus on the next from the list.

Understanding and aligning with priorities

All office representatives and important roles need to have an understanding of organizational priorities and strategies and align with them. Organizations may need support and understanding not only from C-level positions or high management but from many teams and individuals during critical periods, or large-scale initiatives.

The following issues related to chapter "Business Value-Oriented Priorities" are included in the certification exam. The sequence of questions is presented in the table.
The data is current as of July 8, 2020, 4:04 pm

ID Issue Time Category
0 Value versus cost 60 sec CEO
1 Cross-selling 60 sec CEO
2 Transparent board of organizational issues 60 sec CEO
3 Optimizing budget 60 sec CEO
4 Bond rating 60 sec CEO
5 Understanding and aligning with priorities 60 sec CEO
6 Workplace safety 60 sec CEO
7 Growing an internal positive atmosphere  60 sec CEO
8 Skills improving 60 sec CEO
9 Investing in tools 60 sec CEO
10 Image improving 60 sec CEO
11 Optimizing financial leverage 60 sec CEO
12 Partnerships 60 sec CEO
13 Cost management 60 sec CEO
14 Innovation 60 sec CEO
15 Customer focus 60 sec CEO
16 Diversify revenue streams 60 sec CEO
Comments of our guests
Author

Web site
Your Comment
 

The BVOP Certificates

Certified Chief Executive

The BVOP Chief Executive is the core driver of the Business Value-Oriented Principles and the most advanced figure who has the organization’s best interest.

Get Certificate $1290   $720

Certified Program Director

The BVOP Program Director manages the entire Program Management Office and possesses exceptional expertise and applies strategies.

Get Certificate $720   $490

Certified Agile Director

The BVOP Director is the most advanced and important role inside Agile products and services-based organizations.

Get Certificate $440   $220

Certified Project Manager

The BVOP Project Manager is an advanced and competent business, product, and technical role and a key factor for the success of the projects.

Get Certificate $280   $130

Certified Product Manager

With the advancing design, development, technical, and business knowledge, the BVOP Product Manager is a master role and decision-maker for the products.

Get Certificate $280   $130

Certified Product Owner

Responsible and skilled BVOP Product Owners balance both business and technical needs using Agile approaches and provide business value for products.

Get Certificate $180   $90

Senior Scrum Master Certification

The BVOP Scrum Master role combines skills, Agile thinking, and project management practices to enchant processes, teams, and stakeholders.

Get Certificate $140   $70

Certified Human Resources Manager

People are the greatest assets of any organization. It is important to find a balance between people and organization’s needs.

Get Certificate $140   $70
×
Get the BVOP™ Agile Project Management Certification
$ 0.00 ONLINE Trial Exam