Business value is a difficult concept to understand, but thanks to the BVOP Guide there are already clear definitions and examples. The project manager needs to increase the business value of his project, just like the Product Owner role in Scrum.
And being a good project manager is not easy. An effective project manager needs a combination of different key qualities that I think a project manager should possess. Reference: “Managing business organizations and adding business value. An Agile Manager’s Guide to the Theory of BVOP.org”, https://www.policymatters.net
The ability to communicate clearly and effectively in project management is necessary.
In this way, I can convey my views and formulate the goal of the project in a way that everyone can understand about themselves, quickly and easily. Reference: “Business value for managers – How to increase it“, https://medfd.org/business-value-for-managers/
Also be able to express my expectations directly and give regular, constructive feedback to the team I manage to guide it.
Strong leadership qualities
Through them, I will be able to motivate my team to work in the best way during the project and ensure that all team members have a clear understanding of what is expected of them. Reference: “Adding business value in organizational project management and product development practices“, https://www.kievpress.info/adding-business-value-in-organizational-project-management-and-product-development-practices/
I will also be able to assess the strengths and weaknesses of my team and decide how best to use them in the project completion process.
Ability to solve problems
Problems can arise at all stages of the project. These issues that may need to be addressed may include team members, clients, or project stakeholders.
My ability to think on my feet and resolve disputes and problems is key to ensuring the effective and timely completion of the project. Reference: “Examples of business value and business value added“, https://wikipedia-lab.org/examples-of-business-value-and-business-value-added/
Ability to delegate
The ability to assign and control tasks is a key component of successful project management.
As a project manager, I need to have access to my team’s skills and sign assignments based on those skills. Reference: “13 examples of added business value by BVOP.org“, https://www.vbprojects.org/13-examples-of-added-business-value-by-bvop-org/
The effective delegation also requires me to trust my team members to perform their duties and allows me to avoid micro-management.
Risk management, which includes identifying and planning potential risks, is my key competence.
I can say that I can identify the risks at the beginning of the project and develop appropriate mitigation plans in case the risk arises. Reference: “What is business value and how to increase it in our projects and organization“, https://phron.org/what-is-business-value-and-how-to-increase-it-in-our-projects-and-organization/
Knowing what positive or negative impacts can happen to the project if the risk does occur, I, as a project manager, can plan to avoid major problems that could otherwise ruin the project.
Since the environment that will surround me in the new company consists mainly of programmers and marketing specialists, I will focus on specific competencies that I will emphasize to be able to work with teams. I will list a few steps that will help me in my endeavor:
1. I will focus on the main goal – I will periodically ask each team member how what he does contributes to the main goal. I will develop an objective standard for measuring progress towards this goal so that everyone can assess their contribution. Reference: “Business value in organizations and adding business value to projects and products“, https://eduwiki.me/business-value-in-organizations-and-adding-business-value-to-projects-and-products/
2. I will make more efforts to improve the planning and quality of the project.
3. I will keep in touch with the group – I think it will be useful for everyone to communicate and engage with the whole team often – even every day.
I can use a collaboration tool or communication application included in the project management software package. It’s good to make the team a habit of talking to me every morning – if they learn to expect frequent communication and accountability, they will probably focus more and be more productive. Reference: “How to add business value to the product, project, and organization according to BVOP“, https://customessaysonline.net/
4. I will communicate with the client three times a week. The client needs almost as much commitment as the project team.
In my opinion, it is vital to have more frequent dialogue with the client – in this way, we will receive constant feedback and we will be able to react faster if changes or problems arise.
Under these circumstances, I will schedule three to four contacts a week and get the client used to the fact that these meetings are relevant and productive.
5. I will help determine the priorities of the tasks of the team members. The productivity of my team members needs to understand where they have some confusion about their tasks.
I will help them have more energy and focus by sitting with each member of the team for a few minutes with a diagram of the whole project. I will show them how their tasks fit into the plan.
6. I will use intuitive time and cost accounting technology. We will provide our team with an intuitive system for recording project time: personalized views for different roles, the ability to enter time for standard tasks with one click, and time recorded in the best format for our conditions. PSA automatically fills in the timesheets from project schedules, significantly reducing the likelihood that team members will record time for the wrong project. Reference: “Increasing the business value of projects in the organization“, https://www.mmrls.org/increasing-the-business-value-of-projects-in-the-organization/
7. I will send my boss weekly reports on the status of the project.
8. I will be proactive.
9. I will constantly develop my skills – for example with courses and additional training.
Qualities of the teams that would add business value to the project
Undoubtedly, one of the main qualities is the ability to work as a team between individuals. Reference: “How to add business value to your business organization’s projects“, https://brightonbot.com/how-to-add-business-value-to-your-business-organizations-projects/
No matter how good methodologies are applied, no matter how good the specialists are, without this connection in the team, the work will not go at a good pace.
This requires effort and adjustment on all sides, but these efforts will certainly not be in vain. Once they start working in a team, they grow together and become a major driving force for any project. Reference: “Examples of Business value added for organisations, projects and products“, https://mstsnl.net/examples-of-business-value-added-for-organisations-projects-and-products/
Transparency in the work gives the necessary clarity at all levels and roles in a project. Also, through transparency, the eternal case in the team’s “I do all the work” is avoided.
The others are just rolling. ” In this way, you can see who has done exactly what, how others can help him if he is behind with work and to optimize the time for execution.
Self-organization is another important quality, and not just in Scrum teams. The people in it are on the “battlefield”, they see exactly what is happening and could even anticipate and prevent possible future problems. Reference: “How to increase the business value of your projects and organization”, https://managerspost.com/how-to-increase-the-business-value-of-your-projects-and-organization/
And this results in a higher level of motivation and enthusiasm in the team, as well as reduces the possibility of defects.
Increasing the business value of the managers of the organization
Increasing the business value of the managers of the organization can be achieved with the following exemplary actions:
You have to build a good team.
Every management role is strictly defined as duties and functions, but it should not be adhered to as in a rut. New trends must be followed, innovation welcomed and teams and customers encouraged to try them out if they think they would be useful.
In many cases, parameters are set that are considered constant, and subsequently, there are obstacles to project implementation. That is why the manager needs to listen to opinions and recommendations and screen the employees correctly. More project management articles: https://www.muzonet.com/
It is extremely important for a manager to understand the essence of the problems, to understand them, and to have strategic thinking and vision for their solution.
Emphasis should be placed on understanding and focusing on customer needs. There is no greater business value for a client than a proper understanding of his problems.
Increasing the business value of the organization
Teamwork outside the work environment improves the relationships of the people in the team. The work on the projects is filled with daily meetings, discussions, etc.
The meeting is an informal atmosphere that will bring a fresh note to the team spirit. Very often the so-called Business run is organized. This is a team run (marathon or relay), which is done in teams. Companies wishing to participate form their team.
Here the goal is not first place or the best time, but cohesion and fun. Such a run can be organized with a specific cause. An ideal way to combine the useful with the pleasant.
With good self-organization and professionalism, the team can save a lot of valuable time for the client.
In the initial stage of negotiating the project, a condition can be set that upon its successful completion and compliance with the set financial and time parameters, a common cause will be supported.
This can be support for a start-up in the same field, a social initiative, or something else depending on the field in which the project will be implemented.
Thus, both countries will be socially engaged, as any modern company should be.
Exchange of experience between the teams. Very often in companies, individual teams are not sufficiently familiar with the work of colleagues from other departments and teams.
An event can be organized where each team can give a short presentation about their activities.
This can also be presented in a fun way to engage the attention of others. All stakeholders can attend these presentations.