How to Get a Job For Project Managers

Learn how to write resume and interview

Leadership for Project Managers

Learn how to lead and drive project success.

Project Management Bootcamp

From a beginner to project management professional.

Agile Project Management and SCRUM with AI

Learn to run Scrum and Agile with AI.

Definition of Value

A shared set of criteria that states when a feature produces quantifiable benefit for the business or the customer.

Key Points

  • Created and agreed by product owner, stakeholders, and the delivery team.
  • Centers on measurable outcomes (for example, revenue impact, cost reduction, adoption, satisfaction, cycle time).
  • Guides prioritization and release decisions and is used to judge whether a delivered feature truly adds value.
  • Must be clear, testable, time-bound, and reviewed regularly as market and strategy evolve.

Example

An e-commerce team defines value for a "one-click reorder" feature as: increase repeat purchase rate by 8% within 60 days of launch, keep page load under 2 seconds, and achieve at least a 4.3/5 average customer rating for checkout. The feature is considered valuable only if these metrics are met after release.

PMP Example Question

Which statement best describes the Definition of Value in an agile context?

  1. A list of technical acceptance tests for a user story.
  2. An agreement on the outcomes and measures that show a feature delivers business or customer benefit.
  3. The prioritized list of features to be developed.
  4. A schedule of releases and milestones for the product.

Correct Answer: B — Agreement on measurable outcomes that indicate a feature provides value

Explanation: The Definition of Value is the agreed criteria that determine when a feature yields measurable business or customer benefit; it is not the backlog, release plan, or technical acceptance tests.

Project Management Bootcamp

Embark on a transformative journey with our Project Management Bootcamp at HK School of Management. Elevate from beginner to pro using the latest PMBOK and Process Groups Practice Guide. Our unique, engaging approach makes learning interactive and fun, replacing dull slides with dynamic doodles and real-life scenarios.

This hands-on program includes working on two full project plans. The first evolves as you learn, while the second culminates in a comprehensive plan, solidifying your expertise. You'll navigate real-world challenges, backed by quizzes and in-depth analysis, avoiding common pitfalls and setting you on a path to success.

Enhance your learning with downloadable materials and templates, invaluable for your future projects. The course covers essential topics like PMI, PMO, PMBOK, and project management ethics, delving into critical process groups and key areas such as scope, schedule, cost, and stakeholder management.

Learn from seasoned professionals and join a community of enthusiastic lifelong learners. Ready to master project management and lead with confidence? Enroll now and start your transformation!



Launch your career!

HK School of Management provides world-class training in Project Management, Lean Six Sigma, and Agile Methodologies. Just for the price of a lunch you can transform your career, and reach new heights. With 30 days money-back guarantee, there is no risk.

Learn More