Enterprises create value by investing in opportunities that promise a high return (outcome over cost) and a low risk (variance of outcome, time and cost). From an investor or sponsor perspective, this rule applies equally to the traditional and agile initiatives.
The traditional project funding and project management methods have meticulously evolved to satisfy this rule over multiple decades: an annual planning cycle to select the better opportunities based on a business case and a plan with a fixed scope, schedule and cost, a dedicated project team to execute the plan, and an oversight function like PMO to monitor variance from the plan.
