Definition:
In Disciplined Agile Delivery (DAD) process framework, value-driven lifecycle is a lightweight strategy used to address common project risks such as having a concurrent vision with stakeholders and proving the architecture early in lifecycle. This value-driven strategy reduces delivery risks associated with DAD teams during producing consumable solutions on a regular basis.
Value-driven lifecycle approach is philosophy consistent with DAD approach which is adopted as an extension to some value-driven methods like XP and Scrum. With a value-driven lifecycle you produce potentially shippable software every iteration or, more accurately from a DAD perspective, a potentially consumable solution every iteration. Value-driven lifecycles address three important risks—the risk of not delivering at all, the risk of delivering the wrong functionality, and political risks resulting from lack of visibility into what the team is producing.
Further Reading:
Book: Disciplined Agile Delivery by Scott W. Ambler and Mark Lines