I have been hearing a lot of buzz around value add. In one of my latest interaction with stakeholders, I was forced to talk about Value Add of my team while I wasn’t so sure about the right value itself. I tried to explain but failed. I then realized lets understand what is value Add at least for my own sake.
Therefore, I look up to Oxford Dictionary, and I got below:
Value (verb): estimate the monetary worth of
Surprisingly, Oxford Dictionary has no meaning to suggest for term/phrase widely (and wildly too) used – ‘Value Add’. Basically it is not a proper English phrase itself. However, I didn’t stop and turn to GOOGLE and surprisingly no reasonable meaning I find here either after exploring number of links. However there is term/phrase which is quite common and has a meaning, even in Oxford Dictionary.
Value Added (noun): The amount by which the value of an article/service is increased at each stage of its production/offering
And this is used in most common terminology as – Values Added Services.
On further research, I came to conclusion that corporate managers discover this term/phrase “Value Add” out of their laziness and sick need of fancy jargon. It is nothing more than that. Hence, it is a meaningless question to ask, “What is the value add of your services?”
A right question would be, “Are you providing right value of the money through your products/services?” or “Am I getting value of my money?”
Even, questions like, “What are value added service you offer?” can be a meaningful question. For example, Pest Control service provide Free Cleaning as value added services.
But if a customer ask for Pest Cleaning service and question, “What is the value add of this service?” Oh Lord, there is no value add, you get the value by controlling pest in your house. That’s think on it!
And before I close this article, I would like to quote, “Jargon takes away it.
Also, for corporate managers, PMP (for many its bible of Project Management) strictly prohibited Gold Plating. Take a moment to
language, it dilutes language. Weakens it, make a mockery of it.”