Which are you?
|
Business Category and Project Objectives |
||
|
Category |
Business
values |
Project
Objectives |
|
Government department |
Mission satisfaction for public
constituency Protection of taxpayer
interests |
Best value outcomes (most bang
for the buck) |
|
Non-profit or voluntary
organization |
Betterment of target
constituents Organizational sustainment Donor satisfaction |
Simplest outcomes that serves
constituent interests |
|
For profit business |
Improvement of business
scorecard Shareholder (owner) benefit |
Maximize scorecard impact |
Projects are most successful when executives, sponsors, stakeholders, and project managers all share an understanding that projects only exist to promote and benefit the organization at large
And no, I didn't leave out beneficiaries, customers, or users. The stakeholders and at-large organization cover those bases. So, no busy work; no painting rocks to absorb excess labor. If it doesn't add value, then do something else.
Concepts of Value
Along the way, value takes on multiple meanings. At one level, value—or values—is (are) what we believe in, a “truth” of sorts that needs no proof. It’s just there, and we believe it without reservation.
Value, defined as beliefs, is often extended to a belief system constructed of beliefs and principles. Principles are actionable statements of doctrine; they give beliefs behavior. Thus, like any other system, a value system is a structure of elements supporting defined behavior.
At another level, value is worth we place upon something that is really meaningful to us for which we are willing to give up something else. In the transaction, it’s possible to acquire value-add; indeed, adding value is often, but not always, a transactional objective.
For value-add transactions to be possible value cannot be a zero-sum game; the value pie can be made larger. There is no “conservation of value” principle like there is for energy.
Perspectives
At the end of the day, there are these perspectives for the PMO to take into account:
|
Value Perspectives |
||
|
Sponsors |
Project
Managers |
Beneficiaries |
|
Value is achievement of
business scorecard objectives |
Value is delivery of outputs
for the intended business investment |
Value is being better off,
more effective, and more efficient than before |
++++++++++++++++++++++++
(*) This posting's material taken from my book "Maximizing Project Value, A project manager's guide". See the cover photo below.
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