Maximize the value of a Product in Infrastructure Projects/Products
Scrum guide states one of the important roles for a PO is to maximize the value of a Product. So do we have any techniques to maximize the value of a Product and how can we measure it?
Specifically, how can we maximize the value of a product in Infrastructure such as SDLC products such as IDE, JIRA, SonarQube, which are a vendor based Products, used in companies?
In the situation you describe, what does the Product Owner understand "value" to be in the first place?
Value can be anything from customer growth to risk reduction, or the maximization of profit to the social good.
Are you asking this as a Product Owner for one of those SDLC products or as someone that implements those products for others? In addition to @Ian Mitchell's advice on how to determine value I will also suggest the following.
If you are a Product Owner for one of those SDLC products, then your maximizing of value would be to ensure that features or bugs that are most important to your users are being considered ahead of nice-to-haves. It is very much a normal Product Owner type of role.
If you are the Product Owner responsible for implementing the SDLC product, then you should be ensuring that the features that matter most to the users are being implemented first.
See a common theme in my answers? See how they can relate to @Ian Mitchell's advice?
During the iteration planning it is important to write the objectives of the iteration, PO assigns the planned business value to it. Though there are several ways to calculate the business value, it is recommended to assign BV based on expert judgement by PO. Business value can be assigned from 1 till 10 (some POs will assign from 1 till 100). Once the iteration is over and during the iteration review, PO should assign the actual business value per object. In case if the planned BV and actual BV is not same then it will give an opportunity to PO for inspection and help team to increase the BV.