Standard for Applying Principle 3: Value The Things That Matter

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Valuing the things that matter requires an explicit recognition of the relative value or worth of different changes or ‘outcomes’ that people experience (or are likely to experience) as a result of activities. Value is subjective in its very nature. Therefore, it is critical that Principle #3 is applied in conjunction with Principle #1 ‘Involve stakeholders’ so that we value outcomes from their perspective.

Principle 3 also relates to valuing the inputs required to deliver the activities that are being accounted for.

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