Results are features or capabilites that are out facing, to be used by the customers. such broad definition allows for including any task that improves or modifies the product in a tangble way so the customer can vote (with his money) on the real value. Effort is action (with time and money backing it up) internal to the company that can map to results or be purely internal.
Value proposition of results and efforts is completely different (obviously) but have something in common. Both of them are being used for prioritizing and marking something “better” than other. unfortunately, using only value proposition can be misleading and disruptive.
some major problems of value analysis are:
1. Fuziness – specially in the early stages, the value of “X” is hard to measure and can be just a guess.
2. One scale – the value proposition puts the value on one scale (better vs worse) instead of arguing the value in a multi scale according to industry.
3. Opinion – since the value is somewhat based on opinion, the results can be skewed due to other internal reasons, not connected to “X”
Since the value of “X” is can be misleading due to fuziness, scale and it being an opinion, priority analysis should be multi dimensional and include other information to complement the analysis. several ideas that come to mind are: complementary value (result and effort), different scales of value (like usability vs speed) and others.
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