Project Performance domains

Project Management Quiz

How Project Create Value

Value is the worth, importance, or usefulness of something, and it can be perceived differently by various stakeholders. Customers define value as the ability to use specific features or functions of a product to meet their needs. Organizations focus on business value using financial metrics

  • By Creating new product, service or result that meets the need of customer and end users, for example Developing a mobile banking app that allows customers to transfer money instantly, meeting their need for convenience and 24/7 access.
  • By Creating positive social and environment contribution by reducing waste for example, launching a recycling and waste reduction program in a manufacturing plant to cut down on plastic use
  • By Improving efficiency, productivity or responsiveness in operations. For example, implementing a new inventory management system that reduces stockouts and speeds up delivery time
  • Enabling changes needed for organisation to transition to its desire future state such ac digital transformation for example rolling out MS team to support remote work and digital first operation.
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