The Product Owner is accountable for maximising the value of the product
resulting from the Scrum Team's work. Scrum does not prescribe how to measure
that, but it does say where the evidence comes from, which is observation.
Output and value are different
A Sprint that completes every selected item has produced output. Whether that
output produced value is a separate question, answered by what changes for users
and for the organisation. The Increment matters here because it must be usable,
an Increment nobody can react to yields no evidence either way.
Where the evidence is gathered
The Sprint Review is the scheduled point at which the Scrum Team and stakeholders
inspect the Increment and discuss what has changed in the environment. The
Product Backlog is adapted from what that discussion reveals.
Scrum.org's Evidence-Based Management
Beyond the Guide, Scrum.org publishes Evidence-Based Management, which groups measures into four Key Value Areas. These are Current Value, Unrealised Value, Ability to
Innovate and Time-to-Market. It is not part of the Scrum Guide, but it is part of
Scrum.org's published material on measuring value and is worth recognising by
name.
Common misconceptions
“Value is measured by the number of Product Backlog items completed.”
Completed items are output. Value is established by what changes for users and the organisation, which is why the Increment must be usable and inspectable.
“The Product Owner determines value alone, without evidence.”
The accountability sits with the Product Owner, and the framework is empirical: decisions are made from what is observed. The Sprint Review is the scheduled point at which that observation happens with stakeholders.
2 questions test this concept
Scrum.org publishes Evidence-Based Management with four Key Value Areas. Which statement about it is accurate in the context of a CSPO course?
AIt is part of the 2020 Scrum Guide and must be covered in every course.
BIt replaces the Product Goal as the commitment for the Product Backlog.
CIt is a Scrum Alliance framework taught as a required CSPO topic.
DIt is published material on measuring value that groups measures into Current Value, Unrealised Value, Ability to Innovate and Time-to-Market, and it is not part of the Scrum Guide.
RICE scoring sheet, Reach, Impact, Confidence and Effort columns with the score formula built in, defined confidence bands, and a column recording the assumption behind each input.