The value that you get or perceive to get is the ‘perceived value’ and the value that the business delivers you is the ‘delivered value’. You ask 'what's the difference?'. Let me give you an example.
Very interesting. Which of these should an org prioiritise when there is a resource crunch? And interestingly this seems applicable to those working in a large organization. Not only must I deliver a lot of 'delivered value', I must also deliver on the perceived value. Speak up in meetings. etc...
Roadmap prioritization should look at the most impactful projects rather than looking at delivered or perceived value. A database migration might be very important for the business now, so that they can release more features faster in the future but doesn't have any perceived value. This adds no value to customers in the short term but might be very helpful in the long term as they can get more features faster later. So I would not suggest bucketing features into these buckets for the roadmap exercise. But this will help set expectation with stakeholders on whether a feature will change the customer's perspective of the product or not, also what the success metric should be.
Yes, you are right, even in our careers, we (if we were the product) need to make sure that our customers (stakeholders) perceive our value and that can be accomplished through a lot of ways. I had written about it in this post. https://joejayanth.substack.com/p/showcasing-the-work
Very interesting. Which of these should an org prioiritise when there is a resource crunch? And interestingly this seems applicable to those working in a large organization. Not only must I deliver a lot of 'delivered value', I must also deliver on the perceived value. Speak up in meetings. etc...
Thanks for your comment.
Roadmap prioritization should look at the most impactful projects rather than looking at delivered or perceived value. A database migration might be very important for the business now, so that they can release more features faster in the future but doesn't have any perceived value. This adds no value to customers in the short term but might be very helpful in the long term as they can get more features faster later. So I would not suggest bucketing features into these buckets for the roadmap exercise. But this will help set expectation with stakeholders on whether a feature will change the customer's perspective of the product or not, also what the success metric should be.
Yes, you are right, even in our careers, we (if we were the product) need to make sure that our customers (stakeholders) perceive our value and that can be accomplished through a lot of ways. I had written about it in this post. https://joejayanth.substack.com/p/showcasing-the-work