Projects exist within a larger system, such as a governmental agency, organization, or contractual arrangement. For the sake of brevity, this standard uses the term organization when referring to government agencies, enterprises, contractual arrangements, joint ventures, and other arrangements. Organizations create value for stakeholders. Examples of ways that projects produce value include, but are not limited to:
- Creating a new product, service, or result that meets the needs of customers or end users;
- Creating positive social or environmental contributions;
- Improving efficiency, productivity, effectiveness, or responsiveness;
- Enabling the changes needed to facilitate organizational transition to its desired future state; and
- Sustaining benefits enabled by previous programs, projects, or business operations.
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