PURPOSE: Competency-based time-variable (CBTV) graduate medical education (GME) has been implemented in Canada, Europe, and the United States, yet its perceived value has not been explored. Promotion in Place (PIP) is a CBTV GME program in which residents graduating early advance to attending status with "sheltered independence" until the standard graduation date. This study describes perceived value of CBTV GME and PIP at Mass General Brigham by capturing diverse stakeholder perspectives. METHOD: In this stakeholder analysis using semistructured interviews (June 2022-August 2023), 49 participants were invited (44 representative members and 5 external stakeholders) from 11 GME programs: PIP eligible residents, program directors (PDs), chairs, service chiefs, and external national medical education organization leaders. Authors' understanding of value was informed by Harvey and Green's conceptualization of quality in higher education as "fit for purpose," "standards monitoring," "transformation," and "value for the money." Deductive codes and inductive subcodes captured diverse perspectives of value. RESULTS: Of the 49 invited stakeholders, 34 (69%) were interviewed across 5 stakeholder groups. Nearly all groups cited aspects of PIP that are "fit for purpose" as evidence of value
PIP supported "workforce readiness" and provided "sheltered independence" as intended. External stakeholders, PDs, service chiefs, hospital leadership, and faculty cited value aligning with "standards monitoring" (e.g., PIP must maintain or improve patient and resident outcomes). Nearly all groups cited aspects of PIP aligning with "transformation" as evidence of value. PIP promoted "independent decision-making" and enhanced trainee confidence. Chairs cited aspects of PIP aligning with "value for the money" (e.g., "cost neutral" as optimal for sustainability and avoidance of "hidden costs" such as assessment burden). CONCLUSIONS: Understanding perceptions of PIP and CBTV GME value is critical to engaging diverse stakeholders and extending CBTV GME to more programs and specialties. PIP's transformative nature underscores the added value of CBTV GME.