How do we prioritize benefits that are hard to express in money?

Narrow value assessment

Use explicit nonfinancial criteria such as service quality, accessibility, resilience, or obligation fulfillment alongside financial measures. Keep assumptions visible rather than forcing every outcome into an invented monetary figure.

What to do now

  1. Define the relevant value dimensions
  2. Agree evidence and weighting where useful
  3. Compare options consistently
  4. Record trade-offs and uncertainty
Recommended action flow for narrow value assessment: Define the relevant value dimensions then Agree evidence and weighting where useful then Compare options consistently then Record trade-offs and uncertainty. Escalate when a mandatory outcome is being traded away through an inappropriate scoring model.

When to escalate

Escalate when

A mandatory outcome is being traded away through an inappropriate scoring model.

Who decides

The product or business benefit owner

Example

A service improvement is assessed on accessibility and error reduction as well as cost.

Mistake to avoid

Assigning arbitrary cash values to every qualitative benefit.

Prevent a repeat

Compare observed outcomes with the baseline and separate forecast benefits from benefits actually measured.

Suggested ApprovedFlow setup

  • Projects
  • Tasks
  • Documents

Keep the intended outcome and measurement plan with the project, and assign improvement work to an accountable business owner. See the platform

Related cases

Practice references