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Setup Step 4 - Business Value Criteria (Optional)


(Optional) Business value criteria is part of the Business Value Assessment (BVA) when creating a project.  It is a balanced scorecard technique for evaluating dissimilar projects.  There are a number of questions (criteria) that each have a weighting (totals up to 1 or 100%) and a scale value (the actual number assigned by the answer you picked).

The formula works like this:

Criteria 1 = Financial Impact with an overall weighting of .25 (or 25%) and received the highest score of 5 (Over $X million dollars).

.25 x 5 = 1.25 for criteria (or question) 1

You would then continue for as many questions as you have.  If the highest score for each criteria is 5 then the highest score a project could achieve is a 5.  

This video further explains the BVA balanced scorecard and how to setup the criteria for it.
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