From the course: Introducing the PMBOK® Guide—Seventh Edition
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The value delivery system
From the course: Introducing the PMBOK® Guide—Seventh Edition
The value delivery system
- These days, organizations are focusing on creating value and delivering benefits. The Standard for Project Management has a section on a value delivery system that looks at the integrated systems that organizations use to provide value for their stakeholders. Organizations exist to provide value and benefits to stakeholders, whether that organization is a government, an educational enterprise, a commercial enterprise, or a regulatory entity. If an organization stops providing value, it very shortly ceases to exist. Therefore, it follows that projects are initiated to provide value to the organization and the stakeholders they serve. Some projects serve external stakeholders and some serve internal stakeholders. And it's the same with programs and portfolios. In fact, you could say that operations, projects, programs, and portfolios all exist to deliver value, and that together, they provide a value delivery system.…
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