Comments on: An Attempt to Define Value http://jrothman.com/blog/mpd/2008/08/an-attempt-to-define-value.html Management, especially good management, is hard to do. This blog is for people who want to think about how they manage people, projects, and risk. Thu, 08 Jan 2009 12:49:11 +0000 http://wordpress.org/?v=2.7 hourly 1 By: Hal http://jrothman.com/blog/mpd/2008/08/an-attempt-to-define-value.html/comment-page-1#comment-21161 Hal Sun, 24 Aug 2008 13:32:28 +0000 http://jrothman.com/blog/mpd/?p=8477#comment-21161 I'm on Chet's side. Value is an assessment made by a person at a point in time saying, "My concerns are better taken care of then they were before I received (whatever). It's important to note the temporality of the assessment. A report at one might be assessed as of value by the client while later the report is just waste. Further, standards shift through time. A team listening carefully to a client may be surprised to find out their happy client is no longer happy only due to the client discovering that s/he could be getting something more than the team has been providing. Portfolio managers need to stay close to the client of the projects to see that the intended value is being assessed. I’m on Chet’s side. Value is an assessment made by a person at a point in time saying, “My concerns are better taken care of then they were before I received (whatever). It’s important to note the temporality of the assessment. A report at one might be assessed as of value by the client while later the report is just waste. Further, standards shift through time. A team listening carefully to a client may be surprised to find out their happy client is no longer happy only due to the client discovering that s/he could be getting something more than the team has been providing.

Portfolio managers need to stay close to the client of the projects to see that the intended value is being assessed.

]]> By: Jim Ward http://jrothman.com/blog/mpd/2008/08/an-attempt-to-define-value.html/comment-page-1#comment-21050 Jim Ward Sat, 23 Aug 2008 14:05:54 +0000 http://jrothman.com/blog/mpd/?p=8477#comment-21050 I'm not sure that I totally agree with Chet Frame. If the result we are trying to achieve may not be apparent, how will we ever know if we have achieved. I believe that benefits, or value, just like cost, must be highly visible. It should be evident to all whether these have been attained. If you had substituted "quality" for value, I might have tended to agree more, but not completely. I’m not sure that I totally agree with Chet Frame. If the result we are trying to achieve may not be apparent, how will we ever know if we have achieved. I believe that benefits, or value, just like cost, must be highly visible. It should be evident to all whether these have been attained. If you had substituted “quality” for value, I might have tended to agree more, but not completely.

]]> By: Chet Frame http://jrothman.com/blog/mpd/2008/08/an-attempt-to-define-value.html/comment-page-1#comment-20845 Chet Frame Fri, 22 Aug 2008 02:38:33 +0000 http://jrothman.com/blog/mpd/?p=8477#comment-20845 Remember that value, like beauty, is in the eye of the beholder, but in the case of value the beholder needs to be the customer. ROI and numbers work well for the financial set, but most customers are buying a service or a program to reach an end that may not be apparent. Help them get what they want and they will appreciate the value. Remember that value, like beauty, is in the eye of the beholder, but in the case of value the beholder needs to be the customer. ROI and numbers work well for the financial set, but most customers are buying a service or a program to reach an end that may not be apparent. Help them get what they want and they will appreciate the value.

]]> By: Peter Edstrom http://jrothman.com/blog/mpd/2008/08/an-attempt-to-define-value.html/comment-page-1#comment-20691 Peter Edstrom Thu, 21 Aug 2008 02:45:25 +0000 http://jrothman.com/blog/mpd/?p=8477#comment-20691 Thanks for the post! I find that often value is confused with an over-the-top process. Instead of building value, we build a wonderful process and hope that value will emerge somehow. Thanks for the post! I find that often value is confused with an over-the-top process. Instead of building value, we build a wonderful process and hope that value will emerge somehow.

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