Computer science > Agile methodologies > Scrum >
Stakeholder Value

Last updated on Thursday, April 25, 2024.

Definition:

The audio version of this document is provided by www.studio-coohorte.fr. The Studio Coohorte gives you access to the best audio synthesis on the market in a sleek and powerful interface. If you'd like, you can learn more and test their advanced text-to-speech service yourself.

Stakeholder value refers to the benefits that individuals or groups, known as stakeholders, derive from a project, product, or service. In the context of Agile methodologies and Scrum, it emphasizes the importance of delivering value to all stakeholders involved in the development process, including customers, end-users, team members, and other interested parties. The goal is to prioritize and maximize the value delivered to stakeholders throughout the project lifecycle.

The Concept of Stakeholder Value in Agile Methodologies

Agile methodologies, such as Scrum, have revolutionized the way software development projects are managed. One of the key principles of Agile is the emphasis on delivering stakeholder value.

What is Stakeholder Value?

Stakeholder value is the overarching goal in Agile methodologies. It refers to the benefit that stakeholders - including customers, users, and investors - derive from a software development project. This value could manifest as a new feature that enhances user experience, a more efficient workflow that boosts productivity, or a cost-saving measure that benefits the organization as a whole.

Importance of Stakeholder Value

By focusing on delivering stakeholder value, Agile teams ensure that every task they undertake contributes directly to meeting the needs and expectations of those who have a vested interest in the project. This customer-centric approach leads to higher satisfaction levels, increased trust, and better outcomes.

How Agile Methodologies Achieve Stakeholder Value

Agile achieves stakeholder value through its iterative and incremental development approach. By breaking down the project into smaller, manageable chunks called sprints, teams can continuously gather feedback from stakeholders and make necessary adjustments to deliver the highest value. This flexible nature of Agile allows for changes to be incorporated swiftly, ensuring that the end product meets the evolving requirements and priorities of stakeholders.

In conclusion, stakeholder value is at the core of Agile methodologies like Scrum. By prioritizing the needs of stakeholders and focusing on delivering value throughout the development process, Agile teams can create successful products that effectively address the requirements of the end users and the business.

If you want to learn more about this subject, we recommend these books.