In this episode, Alaeddin Hallak shows us how to deliver real business value through our business analysis approach.
After listening to this episode, you'll understand:
- How to determine what value really means
- Why you should focus on outcomes instead of outputs
- Approaches you can use to contribute more value to your organization
What exactly is business value? We as Business Analysts help our organizations realize business value when we do things that either sustain or increase revenue or reduce/avoid cost.
Increasing revenue and avoiding cost are top level measures of business value. Things like increase market share, customer satisfaction, quality, and compliance with regulations lead to these top level business value outcomes.
Why Should Business Analysts Be Concerned About Value?
Business value isn’t just the realm of project sponsors. Customers expect more and the environment is changing quickly.
To stay competitive, we need to produce more value with the same resources. If we do, we’ll not just stay relevant, but also prosper.
We need to take more ownership in driving business value.
Focus on Business Value
It all starts with a mindset shift. We need to realize that outcomes are more important than outputs. We should also understand that we’re here to create products that solve problems, not just participate on projects.
Observe what you’re doing and ask yourself “Will what I’m doing right now generate more business value?” Can business objectives be traced back to what you’re doing?
This mindset shift starts with having knowledge of the business. From there, you can apply concepts such as design thinking to ensure you understand customers and deliver the right solutions.
How Can We Add Value?
Before you attempt to formulate a solution, you need to thoroughly understand the business problem. Failing to do so leads to wasted time and resources.
Have a skeptical mindset when given a solution. You can apply tools such as root cause analysis, design thinking, contextual observation, and benchmarking to help focus on the right problem to solve.
As change agents, we need to go the extra mile and help the organizations adopt the changes we implement. Involving stakeholders and end users early leads to more ownership, less resistance, and better adoption of the change.
Listen to the full episode to find out how to seek positive outcomes, why Agile is an ‘undo’ button, and what to do when you’re handed a solution to implement.
Brainstorm ideas about what it would take for your organization to adopt the change you’re currently working on.
Are there transition requirements that you haven’t considered?
What’s your sense from stakeholders about how people will receive the change?
If you feel there will be resistance, what can you do to evangilize the benefits of the change or raise the issue to leaders?
Alaeddin Hallak, CBAP
Senior Business Analyst
Alaeddin is a multidisciplinary Senior Business Analyst with a relentless focus on delivering valuable business outcomes and eliminating waste. He has over 12 years’ experience in being a change agent in sectors such as IT, finance, and government. Alaeddin is on a mission to solve business problems with solutions that balance business value, UX, and technical feasibility.
Thank you for listening to the program
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