In the context of Agile, the concept of “value” is multifaceted and not solely focused on financial metrics like return on investment or profit margins. According to the available information, some key aspects of defining value in Agile include:
Transactions between the Scrum Team and its stakeholders: Value in Agile refers to the exchanges and interactions between the Scrum Team and the stakeholders they serve. 【1】【2】
Delivering working software: One of the core Agile values is “Working Software over Comprehensive Documentation”, emphasizing the importance of providing functional software that delivers value to customers. 【3】
Responding to change: Agile values “Responding to Change over Following a Plan”, recognizing that value is not static but can evolve based on changing customer needs and market conditions. 【3】
Reducing waste: Agile approaches aim to identify and eliminate waste, such as unnecessary processes, in order to maximize the delivery of value to customers. 【4】
Improving operations: Agile methods can help organizations improve their operational efficiency and effectiveness, thereby increasing the value they provide. 【4】
Customer collaboration: Agile emphasizes “Customer Collaboration over Contract Negotiation”, highlighting the importance of working closely with customers to understand and meet their needs. 【3】
In summary, in the Agile context, value is not solely defined by financial metrics but encompasses a broader set of factors, including customer satisfaction, operational efficiency, and the ability to respond to changing requirements. 【5】【1】
[1] What Is This Thing Called “Value”? | by Christiaan Verwijs - Medium
[2] Five Types Of Value | Scrum.org
[3] What are the 4 Agile Values? - Productboard
[4] Business Value in Agile Organizations - Scrum.org
[5] Defining Value in Agile - Applied Frameworks