What is business value? By Renatio
In analogy with Charles Darwin’s survival of the fittest, we can state that for companies it not the strongest that survives, nor the most intelligent.
But the ones most responsive to change!
Agile methodologies such as Scrum are all about generating value for organizations. But few people are able to define ‘value’ into something that’s actually meaningful in the context of a project or organization.
One could wonder why business value really needs a clear definition?
Typical for any IT organization the business demand always exceeds the IT budget availability. Meaning that there is a systematic shortage of resources and an abundance of business ideas waiting to be realized. Given those constraints it is important that whatever cool new feature, or the next fabulous product and so on are characterized by the fact that they are most likely to generate value for the company. Or in simple terms most bang for the buck.