Making Product Decisions with a Practical Value Model

Working with stakeholders (customer, business and technology perspectives) to effectively and efficiently deliver high-value products begins and ends with value. “Value” is the beacon, watchword, end game, justification and mantra for Agile. It is the basis of the big “why”.

Value means fair return in exchange for time, money, goods, or services. One way to assess value can be summarized as IRACIS: Increase Revenue, Avoid Costs (including avoiding loss by protecting revenue), and Improve Service. But that’s not enough. Value is in the eyes of the beholder. Furthermore, value can be tangible (money, market share) and intangible (customer loyalty, desirability, feasibility, differentiation).

You assess value by weighting benefits, costs, and risks, and incorporating value considerations—variables used to assess value of product options. You make product decisions at every turn throughout discovery and delivery based on value, balancing multiple considerations and perspectives. Many agile teams struggle to clearly, concisely and continually use value as the basis for making decisions about what backlog items to pull and plan for. Explore a lightweight framework for collaboratively—and continually—identifying stakeholder values and making value-based decisions on what to build.

Video producer: http://www.agilenewengland.org/

Videos

Designing a Scalable Product & Engineering Methodology

Are you bored by hearing about Spotify’s Model, Basecamp’s Shape Up, or Netflix’s “No Rules Rules”? All of them do have something in common. They tailored something unique to match both their ambition and their strengths, while honestly acknowledging their weaknesses.

Read More
Videos

Design Thinking Activities

This video explains that the six stages of the design thinking process can be supported by a very wide range of UX methods and activities. Don’t limit yourself to the most commonly mentioned methods.

Read More
Videos

Wardley Maps: Business Analysis, Experimentation & Evolution

This presentation explains how Wardley Maps were used to inform the always evolving strategy for the modernization of Ticketmaster’s core ticketing platform not only in terms of technical capabilities and architecture but also process maturity, organizational design, and more.

Read More

Copyright © 2009-2022 Martinig & Associates