Project-Value Canvas
Short Tip: A canvas for products that are mainly related to specific initiatives or projects.
What is it?
It is a Canvas that details products with characteristics of initiatives or projects that deliver a specific benefit. Unlike the Lean Canvas, which works as a business unit, the Project-Value Canvas defines basic aspects of the initiative (scope, time and costs) from the perspective of value delivery to the user.
Why use it?
In many initiatives (e.g., those related to government, monopolies or intra-organizational ones) it may not make sense to analyze “competitors” and “barriers to entry” as in a competitive market environment.
In this case, the Project-Value Canvas provides the necessary details of the initiative from the perspective of user value, as well as how to measure it at the time of releases.
How to use it?
The Canvas should be filled by the team. There is a recommended sequence indicated by the numbers on the Canvas. Based on the new information filled, it is expected, however, some rediscussion on previous fields.
It is suggested the following steps:
- Based on the previously selected idea, fill in the “Customer Segment” ①, “Problem” ②, its relevant root causes ③ and “Solution” ④ quadrants;
- Identify the unique Value Proposition ⑤ for the indicated solution. Be as objective as possible;
- For this solution and value proposition, identity the users that will most likely adopt it first ⑥;
- As you identify the value proposition, indicate the main metrics that capture that generated value ⑦, as well as a specific “SMART Goal” ⑧;
- Describe the general scope of the solution (“Main Deliverables” ⑨) and what is not part of the scope ⑩. The macro-deliverables list typically will have 3-7 items;
- Avoid the trap of detailing the general scope – that will be done in the Maturing stage;
- Detail the macro-releases in the Roadmap ⑪.
- Identifying release dates is not the goal at this point – that will be done in the next stage. The goal of the Roadmap is to organize the timeline in terms of releases’ logic and dependencies.
- Identify the main drivers of cost and investment for delivering the solution ⑫. If it is a predictive product, sometimes you can identify, by analogy, a slightly more accurate initial cost estimate.
- Finally, identify the major risks ⑬. It is common to go back to previous fields based on the risks captured.