1. Project to earn money
In this category are projects with direct impact on revenue, profit, cost. For instance, change to more productive technology, cutting expenses.
Outcome is estimated in money.
2. Project to mitigate some risk
Projects about better manageability also fall into this category. For example, improving release or incident management in IT.
Lower risks (probability * possible impact) should be outcome of this kind of projects.
3. Project to gain more loyalty
It should be project about customer’s loyalty. I believe that quality perceived by customer also converts to loyalty. That’s why quality projects (reducing number of failures or % of defects, making a service faster, customer journey easier) fall into this category.
Value can be measured in money based on correlation like NPS / churn and churn / revenue decline.
4. Project for passion and pleasure
Outcome can not be measured. You are engaged, maybe, to someone else’s loyalty project (type 3). But, anyway, this probably the most valuable sort of projects.