---
reference_type: Principle
reference_id: P04
name: Focus on Value
version: "1.0.0"
status: Deprecated
edition: PMBOK7
pmbok8_source: "PMBOK8 Standard §3.4 — Focus on Value"
authority: PMI-derived
---

# P04 — Focus on Value
**Type:** Principle
**PMBOK8 Source:** PMBOK8 Standard §3.4 — Focus on Value
**Version:** 1.0.0

## Definition
PMBOK 8 Standard §3.4 establishes that the ultimate purpose of any project is to deliver value. Value is defined as the worth, importance, or usefulness of something — and it may be financial, social, environmental, or strategic in nature. This principle requires practitioners to maintain a consistent, deliberate focus on the intended value throughout the entire project lifecycle — not only at the moment of delivery. Critically, value realization extends beyond project closure into the operational period and the broader benefits realization horizon. Projects that deliver all planned outputs on time and on budget but fail to realize the intended value have failed their fundamental purpose. Value focus also means that decisions about scope, cost, schedule, and quality should be assessed in terms of their effect on the value the project is intended to deliver.

## Key Characteristics
- **Value as the primary purpose:** All project decisions, trade-offs, and prioritizations should be traceable to the question of how they affect the value the project is intended to deliver (§3.4).
- **Multi-dimensional value:** Value encompasses financial returns, operational efficiency, strategic positioning, social outcomes, environmental impacts, and other forms of benefit — not solely monetary measures (§3.4).
- **Lifecycle-spanning focus:** Value orientation must persist from project initiation through benefits realization — it cannot be treated as relevant only at delivery or project closure (§3.4).
- **Value vs. outputs distinction:** Delivering project outputs (scope, deliverables) is necessary but not sufficient — value is realized when outputs produce the intended outcomes and benefits in the operational context (§3.4).
- **Continuous value assessment:** Practitioners must regularly assess whether the project is still positioned to deliver its intended value, and be willing to recommend course corrections — including stopping the project — when value is no longer achievable (§3.4).
- **Stakeholder-defined value:** What constitutes value must be understood from the perspective of the key stakeholders and the organization — not assumed by the project team (§3.4).

## Relationship to Other Principles
| Principle | Relationship |
|---|---|
| P01 — Be a Diligent, Respectful, and Caring Steward | Stewardship is fundamentally about protecting and realizing the value of organizational investments — stewards ensure that resources are used in ways that maximize the probability of intended value delivery. |
| P07 — Tailor Based on Context | Tailoring decisions should always be driven by what approach best serves value delivery in the specific context — not by habit, convention, or methodology preference. |
| P11 — Embrace Adaptability and Resiliency | Adaptation is justified when it protects or enhances the project's ability to deliver its intended value — value focus provides the criterion for evaluating when and how to adapt. |
| P03 — Effectively Engage with Stakeholders | Stakeholder engagement is the mechanism through which the definition of value is established, validated, and refined — without engagement, value assumptions may drift from what stakeholders actually need. |

## Artifact Connections
| Artifact | Connection |
|---|---|
| A01 — Business Case | The foundational value justification artifact — establishes the intended value of the project investment, the expected benefits, and the conditions under which the project remains viable. All value-related project decisions trace back to the Business Case. |
| A02 — Benefits and Value Measurement Record | The post-project value tracking artifact — defines how benefits will be measured, establishes baselines, and tracks realized value against the intent documented in the Business Case. |
| A04 — Project Charter | Formalizes the project's authorized purpose and value intent — serves as the primary reference document for confirming that project decisions remain aligned with the intended value outcome. |
| A24 — Closure and Benefits Transition Record | Documents the transition of value realization responsibility from the project to operations — ensuring that the organizational mechanisms to capture intended benefits are in place at project closure. |

## Skill Connections
| Skill ID | Skill Name | Connection |
|---|---|---|
| SKL-02-01 | Develop Project Charter | Establishes the formal link between the project's authorized purpose and its intended value — the Charter is the first governance instrument through which value focus is institutionalized. |
| SKL-06-01 | Close Project or Phase | Effective closure ensures that value realization mechanisms are in place — confirming that outcomes have been transitioned to the right owners and that benefits measurement is activated. |
| SKL-06-02 | Final Performance Review | Evaluates whether the project delivered the outputs and positioned the organization to realize the intended value — the primary performance instrument for assessing value delivery success. |

## Questions to Ask in Practice
1. Can every major project decision I am making be justified in terms of its effect on the project's intended value — or am I optimizing for delivery metrics that may be disconnected from value?
2. Is the value this project is intended to deliver still valid, realistic, and achievable given current conditions — or has the business context changed enough that the project's value case should be reassessed?
3. Do all key stakeholders share a common understanding of what value this project is intended to deliver, and how that value will be measured?
4. What will happen after this project closes — is there a clear plan and owner for capturing the intended benefits during the operational period?
5. If forced to trade off scope, cost, or schedule, which options best protect the project's ability to deliver its core value?

*Authority: PMBOK8 Standard §3.4 — Focus on Value · Source type: PMI-derived*
*Repository: https://github.com/fakhruldeen/PMOSkills*
