What is Value and who is Product Owner?

What is Value and who is Product Owner?

The word “value” comes from the French verb valoir, meaning “to be worth.” Gradually it evolved an association with valor and worthiness.

How do we relate this to a Product being valuable? Let’s say I’m sitting in a hotel room on a rainy day and I don’t like the food at the hotel. I want to eat food of my choice and I don’t want to shell out too much money and effort. I can call a restaurant but it’s quite possible they are good at only one type of cuisine. I can order choice of my food from multiple restaurants. It’s going to cost me a lot of money, as each restaurant will have minimum order amount. I can go out and pickup item of my choice from my preferred restaurants however I’ll spend quite a lot of time waiting at each of these restaurants. So as an end user, I need comfort, want to save money and effort as well. This was one of the problems that one of the teams in our Certified Scrum Product Owner class picked up back in Aug 2014.

So product, solution or service is of value, when

-It saves my time and effort than the alternative solution available.
-It is affordable.
-Investor also makes money (ROI) so that the quality is sustainable.

You can say a product is valuable only when all three people end users, developers and investors(sponsors and buyers) are happy getting their expectations met. Even if one of them is exploited then the product won’t sustain for long.

Recently, I used an app called as Swiggy couple of times for ordering food from outside while I was traveling and didn’t like the food at hotel. I noticed that it solved the problem I stated above. As an end user I really found it valuable. I met one if the delivery boys of Swiggy while he was picking up an order from a juice shop near my house and understood that the folks at restaurant and delivery boys didn’t sweat much either as the Swiggy stopped taking orders when the orders were beyond their capacity.

So anybody who is in charge of building such a service or Product should keep in mind all the stakeholders and make sure that the Product is valuable for all of them. Only if Product is valuable for all the stakeholders, it sustains for long time. A Product Owner role in Scrum is such a role, with primary focus on maximizing the value.

Product-owner

Want to learn more about Product Ownership, you may want to attend one of our Product Owner workshops. Find more details @ https://leanpitch.com/cspo-workshops/

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