Most valuable players

Just having a value-based project with impressive ROI throughout isn't enough. Value creation concerns managing and ultimately surpassing stakeholder expectations based on business objectives. This article examines how project managers who constantly create value in their initiatives can increase ROI and exceed stakeholder expectations. In doing so, it identifies these four stages of value creation. In the first stage--understand requirements and risks--project managers should find the products, services, and features that customers are likely to value most. In stage 2--explore areas for improvement--value creation doesn't work unless the team can discover the project's strengths, weaknesses, opportunities, and threats (SWOT analysis). In stage 3--define the possibilities--team members should be able to take ownership of the their portion of the project while keeping the organization's objectives in mind when suggesting ways to increase value. Finally, in stage 4, project professionals must prioritize and ran
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