Creating value for money
Creating value for money involves making the right choices for the right reasons, balancing return on investment and value for the user and the organisation.
Levels
- 1. Awareness
You can:
- clearly describe the value of your work
- determine or estimate the benefits your work is expected to deliver
- identify opportunities for reuse, saving time and money
- 2. Working
You can:
- estimate the value of each item on your roadmap
- compare effort to value when deciding priorities
- decide when it's appropriate to reuse something, and when it's not
- decide how and when to escalate risk in achieving value
- discuss estimates with stakeholders to validate understanding
- analyse the benefit of investment against anticipated outcomes
- 3. Practitioner
You can:
- advocate for user needs, ensuring user value is balanced against cost and value for the organisation
- determine the benefit of a product and persuade others it's the right product to use
- write or contribute to business cases
- communicate business-value propositions
- help others make value-based decisions, influencing the direction of development
- 4. Expert
You can:
- develop and own a business case and iterate it throughout the life cycle
- coach others on identifying benefits whilst balancing user and business needs
- communicate the delivery of incremental value
- build the case for an organisational approach to value through product strategy
- coach and empower teams to take a value for money approach
Contains public sector information from the UK Government Digital and Data Profession Capability Framework (https://understand-digital-data-roles-skills.service.gov.uk/), licensed under the Open Government Licence v3.0. © Crown copyright.
Closest ESCO skills
Contains ESCO v1.2.1 data (https://esco.ec.europa.eu/). © European Union. Reuse authorised under Commission Decision 2011/833/EU.
Role levels that expect this skill
| Role level | Role | Band | Expected level |
|---|---|---|---|
| Category manager (digital and technology) | Category manager | 8a | Practitioner |
| Senior category manager | Category manager | 8b | Expert |
| Head of category | Category manager | 8c | Expert |
| Lead contract manager | Contract manager | 8b | Practitioner |
| Deputy director of finance | Head of finance | 8d | Expert |
| Director of finance | Head of finance | 9 | Expert |
| Head of procurement | Head of procurement | 8c | Expert |
| Head of commercial | Head of procurement | 8d | Expert |
| Director of procurement and commercial | Head of procurement | 9 | Expert |
| Senior management accountant | Management accountant | 7 | Working |
| Finance business partner | Management accountant | 8a | Practitioner |
| Head of management accounts | Management accountant | 8b | Practitioner |
| Buyer | Procurement officer | 4 | Awareness |
| Procurement officer | Procurement officer | 5 | Working |
| Senior procurement officer | Procurement officer | 6 | Practitioner |
| Associate product manager | Product manager | 6 | Awareness |
| Product manager | Product manager | 7 | Working |
| Senior product manager | Product manager | 8a | Practitioner |
| Lead product manager | Product manager | 8b | Practitioner |
| Head of product | Product manager | 8c | Expert |