When you are completing a project, your results must satisfy two criteria: 

  1. Are your results useful to the stakeholders? 
  2. Do your results deliver what they promise they would? 

The ITIL framework describes the difference between utility and warranty

Utility is when the results are “fit for purpose.” Being fit for purpose means that the use of your project gives something useful to the recipients. If the stakeholders were asking for a configurable website that is moderately fast, but you deliver a static webpage that performs blazingly fast, you haven’t achieved the usefulness that has been requested. The customer values the utility (usefulness) of configuring the site, but you haven’t given them that. 

Warranty is the promise that what you deliver will perform as designed. If you provide a configurable website that is inaccessible 50% of the time, you haven’t delivered on your promise of a website that works. 

Delivering value is when you can give your customer both utility and warranty. Your customers and stakeholders want you to provide them with something useful to them and do exactly what you say it will. Create value by giving something useful and works as you promise.