hello and welcome to our video on how to realize and manage value from your ServiceNow investments value management is an important discipline that ensures you get the expected return from your ServiceNow investments you will learn three things in this video what is value management what arts key components and what should you do next to manage value for your organization let's begin by defining value management many organizations think of value management as a point in time post implementation activity when it is too late and less effective the best practice approach for value management is to make it an ongoing activity where you consider the impact of all decisions big and small on the value you expect to gain this constant analysis and improvement mindset is critical to managing in realizing value here are four components to effectively managing value they are one planning to clearly define your expected benefits to tracking to measure if you are on course with your plan 3 communicating to inform all stakeholders on your status and for decision-making to make sure the tactical and strategic steps you take are informed by their impact on value let's dive into each of these starting with planning which entails clarifying your ServiceNow business case your expected value should be part of your business case revisit it with your stakeholders to make sure everyone is aligned understand your objectives from the enterprise level to operations what problems you are solving what solutions you are delivering what outcomes you will see as a result and lastly what metrics would indicate success let's look at how metrics helps you build a scalable process to track value top level value metrics such as improving NPS by five points are sold them actionable at a tactical level to impact top level metrics you need to identify the most critical underlying processes and come up with two to three metrics that you will track these process level metrics act as leading indicators helping you understand whether you are on track to the desired outcome or if you need to course-correct remember less is more when it comes to defining metrics work with service owners to choose no more than three metrics to monitor or high-level objective now let's discuss how we can use these metrics to communicate value in drive actions value communication is about providing the right information to the right stakeholders in the right format the Taylor dashboards you create for each set of stakeholders must focus on the merits most relevant for them and provide them with the ability to dig deeper this brings us to the final component of value management decision-making a data-driven culture is a prerequisite for successful value management first invest in ocm activities to build a habit of using metrics to drive decisions next use your data to tell a compelling story that will inform decision-making lastly make sure all ServiceNow governance activities are focused on value these include strategic as well as tactical decisions consider beginning all governance meetings with a review of relevant metrics if you remember only three things from this video they should be that managing values should be an ongoing process one that begins from the business case and continues across the ServiceNow lifecycle like other disciplines successful value management requires rigorous processes resources and tools and finally all ServiceNow governance and implementation decisions should focus on maximizing value so what should you do next first reflect on what you learned and discuss your value management process with your executive sponsor next refer to the best practices content on this topic on the customer success center and finally plan for how you can roll out or refine your value management process to align with those best practices thank you for your time contact your service now team with any questions you