To maximize the value from an opportunity and to reach agreement with the whole value chain about what the Value Drivers and Critical Success Factors are
- flipcharts, markers, tape, etc.
Types of participants: project members
Pre-Work Required: Some thought about the value drivers and CSF's
Facilitator personality fit: A team would be effective here with a context expert and a facilitator sharing responsibility
1. In order to increase the value of an opportunity or project Value Drivers need to be understood. Value Drivers are the things, if leveraged, will increase value.
2. You may have a different understanding of value driver and critical success factor. For the purposes of this workshop I will be giving the working definition for this session.
3. Different stakeholders may have different and even conflicting Value Drivers.
4. Some Value Drivers are "hard", such as maximize short-term production, and they can be "soft" such as improve the company's reputation.
5. Critical Success Factors are those key activities that need to be done to leverage the Value Drivers.
1. We want to begin with a brainstorm of Value Drivers. Take a few minutes and write your list on a sheet of paper (you can have them use post-it notes also).
2. Ask questions to generate additional ideas such as:
a. What must we do to increase value?
b. Where is value coming from in this kind of opportunity or project?
c. What are company drivers or aspirations?
3. Go around the group and as each person to share their Value Drivers. Put up them up on a flipchart.
4. Ask questions that clarify the Value Drivers.
5. Very quickly go through each of the Value Drivers and ask, "What actions will it take to realize this Driver?"
6. Ask which Value Drivers are the highest level ones for the project? You don?t need to discuss them in detail.
7. Once 5 to 7 are identified. Put one up on a flipchart and ask what are the Critical Success Factors for this Value Driver. (See the chart below.)
8. Identify the top five Value Drivers. This can be done by a team familiar with the stakeholders values or by multi-voting.
1. Thank the group.
2. Go to the next step.
1. Don't get into a discussion about what the difference is between Value Drivers and Critical Success Factors.
2. You can point out that some CSFs are also Value Drivers.
Follow-Up Required: The next workshop
Usual or Expected Outcomes: A list of five Value Drivers and related Critical Success Factors for each of the Drivers.
How success is evaluated: The identified Drivers and CSFs are recognized by the stakeholders as valid
Derived from: unknown