Key Questions & Answers
This page provides answers to general FAQs about our Business Value Maximisation Framework (BVMF®), as well as to questions that BVMF® itself answers on gaining maximum business value, success and ROI from IT enablement of organisational process.
We therefore include answers to questions BVMF addresses that other methods, frameworks, approaches and practices only patchily cover, if at all; broadly:
- If I want maximum value, success and ROI from my business/organisational IT/'Digital' projects and activities (which I do), what questions do I need to answer?
- To gain optimal value and success from the incorporation of IT systems into my business/work practices and processes, what questions do I need to answer?
| Question/s | BVMF® Models, Concepts, Techniques, Answers |
|---|---|
| What is value, to me and my value interested parties (VIPs), in the specific situation I am looking to improve? | Value Definition Model, generic and specific (DoV) |
| What do I need to think, say, focus on and, most importantly, do, practically, pragmatically and viably/effectively; and, how can I best involve others who can or will help? Who do I need to do what? | BVMF® as a whole, (Information Technology) Activity/Role Spectrum, Value Delivery Models (VDMs) |
| What are the ingredients of the value cake, generically and in my situation, and how should I use or treat each one to get the best out of its contribution to the quality of the end result cake? | Business Value Ingredients, Business Value Equation (BVEQ)™ |
| How do I best source the ideal ingredients, use them, mix them, cook them and present the resultant cake to the body or sponsor who wants it? | Business Value Equation (BVEQ), Football Team Management (FTM) / Optimal Human-Computer Interaction (OH-CI), Macro Micro Connectiveness (MMC), Macro Micro Value Loss Avoidance (MMVLA) |
| What kind of value cake do the sponsor and VIPs want? Do I need one cake or several cakes? | Propensity (PROP), Value Definition Model, specific (VDM) |
| How do I measure and monitor value all through the continuing whole process or procedure, including forecasting and relating actuals back to forecasts of value being manifested? | Business Value Equation (BVEQ), Crossword Diagram Technique (CDT) |
| How much value might be possible in the situation for this specific piece of work? | Propensity Concept (PROP) |
| How do I discover where my value will come from? For example, from improved IT technicality or IT functionality, human activity, liaison between IT functionality and the humans using it, and so on? | Value Ingredients / Origin/s (VI/Os), Propensity (PROP), Football Team Management (FTM) / Optimal Human-Computer Interaction (OH-CI) |
| How suitable for computerisation is the business or organisational process or activity area you are looking to improve? | Representivity, generic and specific (REPR) |
| Which set or blend of methods will be most effective for this project or piece of work? Agile, waterfall, wagile, Prince2, BRM, MoV, MSP, Lean, and so on. What will the other methods do for me in respect of value and success, and what will they not do? | 1934 Model, Step Diagram (STEP), Landscape Value Characteristics (LVCs)™ |
| How do I get the best result or maximum value, and keep upping that result? How do I get the best possible result, keep getting it and then improve on it? | Crossword Diagram Technique (CDT), Repeated use of Business Value Equation (BVEQ)™ |
| How can I achieve my objectives reliably but also exceed my objectives where that will cost no more or little more? | Comparatives (COMPs), Less Tangibles (Evaluation), Predictivity (PREDICT) |
| How do I evaluate the comparative contribution of each of my requirements or process components to the whole and combine them in an optimally valuable and powerful fashion? | Conceptual Units of Benefit (CUB) Ladder, Layers of Focus (LoF)™ |
| How do I prevent loss of value anywhere along the chain and how do I get more value, in other words optimise the gain or benefit over pain or cost ratio and ROI? | Crossword Diagram Technique (CDT) |
| How do I manifestly gain the benefits of BVMF® in my business or organisation? | Either by MaxVal Consultancy supplying a BVMF® trained and accredited consultant, a Business Value Maximisation Specialist (BVMS), to work with your team, and or by MaxVal training your team to use BVMF® for themselves. These options can be mixed and matched according to your specific needs and budget. As MaxVal is founder of Do IT Better Consortium (DIBC), a cooperative of consultancies who believe in better value from IT, trained business analysts, project managers, programme managers and architects can also be supplied to help support your projects and activities. These consultants are trained in BVMF® but can also operate in a more traditional capacity where needed. |
| What stage of maturity is BVMF® at? | MaxVal's CEO and lead Business Value Maximisation Specialist, David P Jacobs, conceived BVMF® in the 1980s and early 1990s and has developed and refined it from the mid-1990s to the present day. It has arisen from real situations, by first, second and third hand experience, and has been cross referenced to other methods, approaches, frameworks and practices. Many of the models and techniques have been used in trial and real situations and, since 2020, more case studies have been put into progress with new ones continually being established. A pool of BVMF® trained consultants is also being expanded. Further information on case studies and other aspects of BVMF® appears on the MaxVal website and that of Do IT Better Consortium (DIBC), our cooperative network of supplier consultancies, at www.DoITBetterConsortium.co.uk. BVMF® has been developing for over 30 years and continues to be updated, refined and expanded. Since 2020, market interest in BVMF® has risen as existing methods continue to struggle to provide consistent optimal value. BVMF® supplies a foundation of principles and guidelines that underpins other methods with a strong value-focused layer. |
| Will BVMF® work for IT or digital projects and activities that are not in the business or organisational arena? | Yes, to a great extent. Although BVMF® was specifically designed for business related IT situations, many of the models and techniques will also work in non-business related IT or digital areas, such as medical and scientific contexts. It is estimated that at least two-thirds, and possibly more, of BVMF® will apply. |
| Will BVMF® work for non IT or digital related projects and activities? | Yes, to a great extent. Many of the models and techniques will work in non IT or digital situations. It is estimated that at least two-thirds, and possibly more, will be useful and potentially powerful. |
| Do we have to use the whole of BVMF®? | Absolutely not. At first, selective and value-targeted use of appropriate models and techniques is recommended to shore up weak spots. Later, clients may wish to use the Value Capability Improvement Programme (VCIP) to increase their ability to maximise IT business value more systematically. For this, MaxVal uses the IT Effectiveness Spectrum™ as a yardstick and benchmark set. |
| When and where do we obtain documentation on BVMF®? | Clients receive targeted documentation during and after application of, or training in, BVMF®. There is also introductory material on the MaxVal website, including articles, presentations and podcasts. |
| What does BVMF® consist of? | BVMF® consists of several dozen models, nearly 100 including variations. These define the problems and challenges and begin answering the questions listed above, at least at macro level if not micro level. Most models are pictorial and documented in PowerPoint, while a few are textual only. The models are supported by several hundred techniques, now 450+, including variations. These are called CPGTs, which stands for Concepts, Principles, Guidelines and Techniques. These are mainly being documented in Word. Some of the components are arranged into modules for effective segmentation. |
| Does MaxVal Consultancy have any training in use of BVMF® models and techniques to help career development and value-focused analysis and communication in this area of value maximisation? | Yes. MaxVal has a training and certification programme for analysts, project and programme managers, architects, SMEs, CIOs and senior developers to become more proficient in maximising value. This includes use of The Archery Target™ for career development and The Croydon Facelift™ for concentrated analysis and more effective communication. |