VALUE ENGINEERING IN PRODUCT DEVELOPMENT
Part 1: Project Value (25-30 min including 5min intro)
This examines the engineering of value originating from the work of individuals or a single team.
The audience is split into teams and each receives a separate basic product description. This includes high level features with estimates of value and stories with estimates of effort.
The exercise is "simply" to declare a hypothesis for the delivery of value by proposing a prioritized sorting of stories and features, and plotting their contribution on a value curve (template provided).
Part 2: Product Value (15-20min)
Here we discover that the projects handed out in part 1 actually roll up into products so teams now must decide things together.
One new value-optimization parameter introduced is the user experience. Features combine (in 3s or 4s) to result in a distinct user experience, which itself has value.
The exercise now is to create a new, combined, hypothesis for the delivery of value. This is still in the form of a value curve, with step functions at the points where the new user experience is delivered.
Part 3: Portfolio Value (15-20min)
As a final step, we consider all the products together as a single portfolio
a) Steering Committee and Executive Team operating targets
b) Existing and developing partnerships
c) Major customers and distribution strategy
d) Supply chain constraints
e) Competitive landscape
This exercise intends to answer the question: to what extent does this product/project/feature contribute to achieving this portfolio or organizational value?
Closing + Q&A (whatever time is left)
We invite people to learn about their organizational value-optimization parameters.