Business Value Lecture Notes with Definitions PDF | Download eBooks
Study Business Value lecture notes PDF with project management definitions and explanation to study “What is Business Value?”. Study business value explanation with project management terms to review project management course for online MBA programs.
Business Value Definition:
Business value in projects refers to the benefit that the results of a specific project provide to its stakeholders.
A Guide to the Project Management Body of Knowledge by Project Management Institute
Business Value Notes:
Where on one hand, a project is expected to deliver the requirements to customers, on the other hand, it is expected to deliver some value as well. Business value is related to the quantifiable advantages that a project delivers to both customer and the contractor. These benefits can be tangible or intangible e.g. time, money, goods etc. The results of a project provide benefits to its stakeholders which is termed as business value. The examples of tangible values provided by a project are utility, share, tools, equity, monetary assets etc. The examples of intangible business values are goodwill, trademarks, brand recognition, reputation, strategic alignment etc.
Keep Learning with Project Management Notes
What is Most Likely Time?
After the planning phase of a project, the tasks and activities associated with the project are identified and defined. Moreover, ...
What is Reserve Analysis?
After estimating the duration and cost estimates, it is important to consider the situations of uncertainty. Based on the uncertainty ...
What is Integrated Change Control?
Changes in the project are inevitable. The initiated changes must be managed and controlled effectively. A process that reviews any ...
What is Strategic and Business Management Skills?
A project manager along with all the other skills also need strategic and business management skills. Strategic and business management ...
What is Organizational Process Assets?
Organizations work with different resources and assets. These can include plans, policies, processes, procedures, knowledge etc. They are generally termed ...
What is Market Research?
In the process of procurement management, some tools and techniques can be used for data collection. One of them is ...