Apr 08, 2020 11:01 AM
Replying to Thomas Walenta
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Sampath,
#1 a project (or sub-project) has a deliverable.
#2 This deliverable might enable an outcome (e.g. a new capability, result).
#3 If this outcome is seen by a stakeholder as positive, the outcome for them is a benefit, it might be a dis-benefit to others.
#4 If a benefit is in place, it will deliver value over time (to that stakeholder). Value is always in the eye of the beholder, it is not a fact of reality (e.g. look at the value of your money if you are on ICU).
Programs look at benefits (#3). Some benefits may start creating value while the program runs, most will not.
Most programs require multiple deliverables to create benefits, hence they consist of multiple projects. Sometimes one deliverable feeds into a new project of the program to create another deliverable (like a concept before product creation). The first deliverable may have no value to the final stakeholder (but maybe to others).
