At the commencement of a now-to-new project, you will need to determine the value requirements of each beneficiary group as it relates to your project. A beneficiary group is a cluster of entities that gain value from the enterprise in the same way, such as customers, suppliers, or investors.
The value specification process enables you to consider each beneficiary group and determine:
- What existing value must be preserved.
- What new value might be created.
- What anti-value generation must be eliminated.
- What value must be sacrificed for the good of the whole. When value is sacrificed in this way, the consequent generation of anti-value must be foreseen and mitigated, and those experiencing the anti-value may need some form of compensation.
The reasoning here is that if the project meets the value requirements of all beneficiary groups, then the relevant people within the constituent organisations will support the project, or—at the very least—will not hinder its progress.
Note that creating the value specification is a painstaking process and much more than a form-filling exercise.
Specifying downstream value forms part of the Readiness work that happens at the very beginning of a now-to-new project. You can read more about Readiness work here.