Lightning Cast: Dude’s Law

In this Lightning Cast, you’ll find out what you can do to increase the value of products and solutions developed by your organization by using Dude’s Law. A Lightning Cast is a shorter form episode modeled after lightning talks. You’ll get valuable content in 8 minutes or less. How can you help increase the value of solutions that your team builds? First, let’s define value. We can represent value a simple formula created by David Hussman called Dude’s Law. Dude’s Law states that Value equals Why divided by How. ‘Why’ refers to why we’re developing this solution. What’s the problem you’re trying to solve and how critical is it? ‘How’ refers to how you’ll achieve the intended outcome. This can mean things like the technical solution, lines of code, or documentation. As you can see by the formula, we can increase value if we increase the Why or reduce the How. Increasing Value We can increase the value of the solution by finding a bigger Why. By prioritizing what we work on, we can ensure that the most important (biggest Why) items are done first. Another way to increase the Why is to explore if the product can be applied to solve other pain points or enable opportunities to expand its use by other customers. We can reduce the How by thinking outside the box and exploring simple ways of achieving the intended outcome for the customer. Think about the simplest thing you can do to achieve the Why. Another way to reduce the How is to simplify or reduce the outputs needed to achieve the outcome. Can you reduce the amount of documentation and have a conversation instead? Does that process flow need to be in Visio or will a picture of a whiteboard drawing be sufficient? By using Dude’s Law, we can truly do less and achieve more. What will you do to increase the value of your organization’s products and services? Listen to the full episode to understand how to increase value in your organization. http://traffic.libsyn.com/masteringbusinessanalysis/MBALC022.mp3 Thank you for listening to the program To get more valuable content to enhance your skills and advance your career, you can subscribe on iTunes and other podcatchers. Also, reviews on iTunes are highly appreciated! I read each review and it helps keep me motivated to continue to bring you valuable content each week. . The post Lightning Cast: Dude’s Law appeared first on Mastering Business Analysis.