Value Metrics

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“Budget and deadline are limitations, not values. And speed is not the metric of success” – Sean McSharry

Purpose of Value Metrics 

The Value Metrics of the Problem Solving process allow us to set, measure and prove deliverable expectations at many levels and for all invested parties. They are not simply the goal(s) of the project, and they are never the budget or the deadline – these are implicitly constraints, not values.

Value Metrics allow stakeholders, the business, the project team and clients not only to measure, but to define the metrics that truly demonstrate value and success.

In enterprise environments, these measurable value frameworks function as Objectives and Key Results (OKRs). While not always labelled as OKRs, they operate as structured objective setting mechanisms with quantifiable success metrics that are tracked over time to demonstrate measurable impact against strategic business goals.

What’s critical here is that these are quantitatively measurable and relevant – but not the classic SMART metrics. We’re not always setting these target in advance – we’re measuring them now and seeing the difference after launch so we can prove we’re moving in the right directions and understand where to focus on improvements going forward – what’s working and what’s not.

S – Specific: The metric should measure a specific area of improvement or measurement (see the value groups below for their relevant metrics)

M – Measurable: You should be able to quantify the result or measure outcomes clearly and quantitatively. You can’t prove anything you can’t measure.

A – Achievable (or Attainable): This can be about a target or about the discovery of the numbers around the target to show movement in the right direction. Setting arbitrary, assumed or aspirational targets without data is asking for disappointment and setting people up for failure.

R – Relevant: The metric should align with the user’s needs, the project’s targets, and also the broader business objectives or strategy.

T – Time-bound: This is only useful for the cadence of measurement or the time after launch. The data and response from the users, to the solution, in the real world, will tell you the truth of the timescale. Again, making up arbitrary time targets with insufficient data is asking for disappointment and setting people up for failure.

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Value of Value Metrics 

Their value lies in the fact that they measure initial and on going success bench marks, allowing the business and project teams to prove they delivered the initial required value (or didn’t), prove their research, design and build was optimal, prove the project delivered on strategic business goals, and measure how well, so that continual improvement can be optimally targeted at the areas that provide the most RoI.

It’s not an accident that solving user needs well delivers business value, and the better you solve them the more value and brand reputation are earned.

“The best design performers increase their revenues and shareholder returns at nearly twice the rate of their industry counterparts.” – McKinsey

McKinsey know this because they measured the value metrics.

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Anatomy of Value Metrics

The metrics of value are different depending on whether you are a customer/user, a project team member, a project leader or a business representative/leader. Different metrics represent success to different groups – our job is to define valid metrics with the various groups so we/they can measure them now and later.

Important: we need to validate that the Problem Statement articulates the client’s goals in such a way that we can identify metrics to prove we have delivered on them. It’s painful to hear a client say “You didn’t deliver what I asked for!” because there are no relevant metrics to prove it.

Basic Value Metric

On some projects the client wants more details and to break down the ‘details’ into who the recipient of the value is and how it aligns with project goals and business strategy. For those, the below extension to the template is necessary:

Full Value Metric

For example we would likely measure:

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Examples

There are so many value metrics, for users, the business and the project team, that are identified through research, the problem statement, efficacy KPIs, business targets etc, that are unique to each business and project, that it would be almost impossible to show examples of them all, so I have just included a couple.

NB. For security clearance and NDA reasons, some elements of the example files may be redacted, changed or removed.