One of the key characteristics of any project is the uncertainty of results or outcomes. It is impossible to guarantee project success at completion, irrespective of the size or complexity of a project. Considering this uncertainty of achieving success, it is therefore important to start delivering results as early in the project as possible. This early delivery of results, and thereby value, provides an opportunity for reinvestment and proves the worth of the project to interested stakeholders. It is important to:
1: Understand what adds value to customers and users and to prioritize the high value requirements on the top of the Prioritized Product Backlog.
2: Decrease uncertainty and constantly address risks that can potentially decrease value if they materialize. Also work closely with project stakeholders showing them product increments at the end of each Sprint, enabling effective management of changes.
3: Create Deliverables based on the priorities determined by producing potentially shippable product increments during each Sprint so that customers start realizing value early on in the project.
Some of the key differences with respect to Value-driven Delivery in Scrum project and Traditional projects are given in the figure below.
In Scrum projects, User Stories are ranked in order of priority which is an effective method for determining the desired User Stories for each iteration or release of the product or service. The purpose is to create a simple, single list with the goal of prioritizing features, rather than being distracted by multiple prioritization schemes.
This simple list also provides a basis for incorporating changes and identified risks when necessary. Each change or identified risk can be inserted in the list based on its priority relative to the other User Stories in the list. Typically, new changes will be included at the expense of features that have been assigned a lower priority.
Minimum Marketable Features (MMF) are also defined, so that the first release or iteration happens as early as possible, leading to increased ROI.