Value Delivery System is an all-inclusive approach through which
projects accomplish business value.
Corporate value is typically associated with tangible and intangible advantages received by users, employees and other business professionals. Projects are considered the key vehicle that delivers business value by reaching corporate objectives. The 7th Edition put forth an effective strategy for intended business value. This is primarily achieved by defining corporate strategies and identifying objectives that later turn into practical initiatives. The Organization system, strategies, missions or objectives decide the next portfolios or investments
A collection of strategic business activities aimed at building, sustaining, and/or advancing an organization. The Standard for Project Management, within the PMBOK Guide 7th Edition
Project Management Institute (PMI), 2021
These enterprises produce deliverables that improve the competencies of the organization and offer tangible and intangible outcomes. Eventually, these benefits are transformed into business value. The system allows a smooth flow to the value delivery system in the organization. This is particularly important by effectively propagating information and feedback through predefined channels. The value delivery mechanism mainly comprises of programs, operations, and portfolios to allow workflow and support decision-making.
Ways that projects produce value include, but are not limited to:
- Creating a new product, service, or result that meets the needs of customers or end users;
- Creating positive social or environmental contributions;
- Improving efficiency, productivity, effectiveness, or responsiveness;
- Enabling the changes needed to facilitate organizational transition to its desired future
- state; and
- Sustaining benefits enabled by previous programs, projects, or business operations.
VALUE DELIVERY COMPONENTS
There are various components, such as portfolios, programs, projects, products, and operations, that can be used individually and collectively to create value.