MBA202: Business Value Analysis

David Mantica helps us overcome one of the biggest challenges facing organizations today – understanding value and building the right solution. Show Notes We’re doing things . . . but are they the right things? This is a common challenge for many organizations. It all comes down to value such as business value or customer value. The problem is that value can be difficult to define. When we discuss value, we’re really talking about utility. Utility is what you believe is important for what you’re doing in your life. The challenge comes when we can’t put ourselves in the position of the customer to understand their utility. We often have preconceived notions about the value of what we’re building and we push that on to the customer. Product Management is the Key To address this challenge, we need to shift our thinking to a Product Management focus. When designing a solution, we need to think in terms of value (utility), cost, and competition or what’s happening in the marketplace. Understanding your organization’s goals and capabilities is another critical component. You may dream up a fantastic solution, but it’s only a dream if your organization can’t build or support it and it doesn’t align to your organization’s vision. Ultimately, it comes down to one of two desired outcomes: those that lead to making money or those that lead to saving money. As change agents, we can help our organizations define the right outcomes that align to the organization’s capabilities and maximize utility. Listen to the full episode to discover how to define value and outcomes to build the right solution. Business Value Analysis YOUR HOMEWORK First, start asking questions about why we need the solution, how it will perform better and help us/our customers to perform better. Ask the person using the system about what they value. Second, look into Product Management. Discover how product managers operate, identify value propositions, and validate ideas. Finally, learn more about the Lean Startup model and how it works. Links Mentioned in this Episode SoftEd website- https://www.softed.com/ The Great Courses – Questions of Value David Mantica is VP and General Manager at SoftEd, where they help organisations to adopt new ways of working for better business outcomes. David is also a frequent speaker at meetups, professional organizations, and conferences. David’s LinkedIn Profile 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 in each episode. The post MBA202: Business Value Analysis appeared first on Mastering Business Analysis.