Initiator: Nick
Note taker: Lakshmi Ramaseshan
Participants: 6-7 members
Discussion / Key Concepts / Quotes / Revelations / Highlights
How do you track & estimate business value?
- How does a Management Team estimate business value? What models do you use for estimating?
- When developing new strategies or build on existing strategies having a business case is important
- Project Canvas or Lean Canvas is a simple way to understand the purpose/ROI of a project
- Measurable Success is important
- Having Stakeholders estimate bus. value using T-shirt sizing is appropriate just like developers estimate stories
- Relative Sizing/Estimating & having a baseline is a good way to bring about consistency with values over time
- It’s helpful for developers to know the value of a feature
- OKRs are a good way to start
- Doing Earned value vs. Traditional Cost/Value Mtg can be used
- SMEs are not the best estimator of value – it’s important to have them engage in conversations which not only determines value of an Epic/Feature, but also the Opportunity Cost of not being able to get it to Market at a certain time
- Build or Buy Decisions typically have a Business Value incorporated into the process since it’s the starting point of trying to figure out whether a team would build or buy
- Executive Dashboard like Valpak is the ideal = Encourage Your company or Team to take a Tour (Contact Stephanie Davis)
Recommendations / Next Steps / Actions
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