SAFe has an event at the program level that occurs at the end of each iteration — it is the system demo.
System demo’s big idea is in alignment to SAFe Principle #5 — base milestones on objective evaluation of working systems.
So … what to demo? Demo the completed feature that best represents the achievement of the advancement of the Program Increment (PI) Objectives. It is a higher level of demo … higher than the team-level stories demo. Find that demo-able part of completed feature (feature that advances the PI objective) and show it to the whole ART!
Who presents this program-level demo? Typically, it is the Product Manager who presents; however, anybody in the team can present if the Product Manager (or Product Owner) is not comfortable in presenting just yet! Baby step towards that direction — PM to present; this way PM is another step of him/her more engaged!
Note that this system demo is different from the PI system demo that occurs during the program’s ‘Inspect and Adapt’ event.