The Value of Values

Bruce is the founder of ProjectManagementHacks.com, a resource for growing IT project managers.

  Leadership   ProjectsAtWork  

Projects must deliver value, of course. But they can deliver additional benefits by being aligned with the values of an organization, including improved team morale, stakeholder trust and work efficiency. It’s also worth analyzing if they align with your own values.

Most organizations have more project proposals than they can execute. How exactly do you decide which projects to fund and focus on? In the art and science of project management, financial measures are commonly used to guide project selection and funding decisions. Given the high costs of project work and the uncertainty associated with producing unique results, it makes sense to include financial metrics.

However, financial measures are only part of the picture. What about values?

There are three significant benefits to aligning projects with your organization’s values. First, working on your values tends to maintain and grow the morale of your staff. Second, consistent commitment to your values builds trust with stakeholders. Third, staying focused on your values discourages wasteful spending on non-strategic projects.

Why Values Matter

A study reported in strategy+business found the following concepts are most frequently listed as corporate values:

• Ethical behavior/integrity
• Commitment to customers
• Commitment to employees
• Teamwork and trust
• Commitment to shareholders

The …

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