What does “Value” mean anyway?

Johanna Rothman, author of Manage It! and Behind Closed Doors discusses the ambiguous term “Value” when working on projects in An Attempt to Define Value:

To me, value is some visible form of progress. I prefer working product. I can live with a demo. I can live with a prototype. In some very small number of organizations, I can briefly live with a document. A document ceases to be visible progress after a very small period of time, such as a few days, maybe a week. 

I particularly liked her honesty in how return on investment numbers can be easily manipulated:

If I really knew how to calculate ROI (and not make it be a number I can just make work), I would use ROI. But that’s a bigger rant for another time.

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