Business Value
Definition of Business Value
Business Value is an indicator of the benefits expected to be gained by a proposed change.
Pronunciation Spelling
BIZ-ness VAL-yoo
Example Sentence
The Product Backlog was ranked by business value as defined by the Product Owner.
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Significance
Understanding the term “Business Value” is crucial for agile practitioners as it signifies the significance of a feature or functionality in meeting business objectives. It helps teams prioritize work based on its impact on achieving desired outcomes, ensuring that they focus on delivering features that provide the most value to the business or customers. This comprehension aids in making informed decisions during backlog prioritization, sprint planning, and overall execution, aligning the team’s efforts with the overarching business goals.
Additional Resources
- Business Value in Agile: The Why is Valuable
- Business Value
- Calculating Business Value
- What is business value in agile and why is it crucial for product success
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