The world is awash with business methodologies, and that’s not to say that they don’t all have value. The trouble is that it can be very confusing to differentiate between them and, having chosen the one you wish to follow, whether you are implementing it the right way. VFQ (Value, Flow, Quality) has a set of three Guiding Principles that bring methodologies into focus, cutting away the confusion that sometimes surrounds them and helping individuals and organizations become more agile and customer-focused.
Very often, methodologies never quite seem to fit the work scenario you are in and so become a ‘bolt-on’ to your working context. Even worse, some organizations become so fixated with the methodology’s prescription and procedures that they lose sight of the very mindset it is trying to convey.
VFQ has always recognized these paradoxes and was developed by Emergn to improve the way people and organizations work – under any given situation. It understands that when organizations are under pressure to change, often very quickly, the latest methodology is seen as the answer – a silver bullet. VFQ takes a paradigm shift and works by synthesizing all of the best ways of thinking into a set of three ‘Guiding Principles’, that applies to all methodologies and ways of working.
The Guiding Principles encompass all the most popular methodologies, such as design thinking, product management, lean, agile, and systems thinking. They offer a new way of thinking about work – and undertaking it – with relevant, contextual techniques and practices, creating a fixed point around which all other methodologies can hinge. They are also easy to remember and work with – and that’s important.
Let’s run through each of the three Guiding Principles and see how they relate to the real world.
The first is Value: delivering value early and often. This means that creating real value for the end-user is not achieved purely by fixating on project timelines. Focusing entirely upon timelines, especially on larger projects, it can be easy to miss what the end-user really wants or needs. Such projects can result in greater costs, wasted time, and the risk of full out cancellation. Incremental changes, however, can keep you on track with market expectations and result in better outcomes.
The second Guiding Principle is Flow: optimize the flow of work end-to-end. It’s almost natural to want to focus on the time it takes to complete a project, but the real question is: ‘how do we get our best ideas to market at the optimum time?’ And, ‘how can we derive the most value from our limited capacity?’ Rather than concentrating on how long something takes, the focus is on optimizing the flow of work from points A to Z. By pinpointing and eliminating the constraints that inevitably lay somewhere along the way in those workflows, you can also improve how quickly that work can be delivered at the same time.
The third principle is Quality: discover quality with fast feedback. The process of innovation should engage end-users sooner rather than later so that a company can act on their feedback. Creating systems that speedily draw feedback from proposed end-users about new products is vital. Such early feedback can be funneled swiftly back into the project team – leading to improved quality and, possibly, even to more innovations. It affirms that a company is building the right thing – to do exactly the job for the consumer that the consumer wants – and in the right way.
To learn more, watch our video below.