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Product-Value

Definition:

alternative1: how well the system does what it does as experienced by Stakeholders.
alternative2: how well the system does its Product-Functions as experienced by Stakeholders.
alternative3: how well the Product-Function performs as experienced by Stakeholders.

Alternative Names

Concept Number: *125
English Master: Product-Value
Synonyms, Variations & Acronyms: Quality Product-Quality

Detailing

Each alternative is really the same, but 2 & 3 are more precise.
includes; Qualities, system-performance, capacity.
describes the interaction between a Product and a Stakeholder.


Illustrations

Product-Value.png
Illustration: interactions are everything. We would not even know of an apple, had it not been for the interactions between the apple and us. We see, feel, taste and smell it etc. These interactions between the apple and us, I call interacting Qualities or Product-Values. The Qualities of an apple (or any Product) are what make us appreciate it. It might look-, smell-, feel-, great or less so. It will be healthy or less so. It will store well or rot fast.
We choose to buy and eat one food (or any Product), rather than another, based on the Product-Values that we want. To develop or buy an apple we must understand its Product-Values, the same holds true if we want to successfully develop any Product or Service.

Product-Values are vary in size, intensity, value etc. To clearly describe such a variable, it is best to use numbers. See Quantification-Scale.


Type

Value
Scalar


Examples

Some Product-Values (Qualities) of a car: Cost, comfort, acceleration, braking ability, its precision in steering, fuel mileage, style and beauty, its maintenance costs, road handling, ease of opening the hood, intuitiveness of the air-conditioner, intuitiveness of adjusting the seats, space, environmental pollution, quietness, etc., as well as customer satisfaction, friendly sales staff, image etc. are all examples of what I call Product-Values that we might evaluate when buying a car.

User-Friendliness.Operate.Install
Type: Product-Value
Scale: average time in minutes, to install, the system.
Meter: have 3 people install the system, time them, and average the time.
Past [2004] 120 min.
Goal [2006] 30 min.

Product-Value: Includes: {Availability, Usability, Integrity, Adaptability, and many others}.
see Scale db for an extensive list of examples.


Notes

1. A Product-Value is a System performance Attribute. All Systems have a large number of Product-Value Attributes in practice. In a given situation, only the relevant Product-Value Attributes will be specified: these are the Product-Values specifically valued by the Stakeholders.

2. All Product-Values can be described numerically, using a defined Scale, or set of Scales. Existing Product-Value Levels can be specified as Benchmarks, and needed future Product-Value Levels, can be specified as targets and Constraints.

3. Product-Value is distinct from the other performance Attributes: Work Capacity and Resource-Saving.

4. Product-Value is characterized by these traits:
Product-Value describes ‘how well’ a Function is done
Product-Value is valued to some degree by some Stakeholders of the System
• More Product-Value is generally valued by Stakeholders; especially if the increase is free, or at lower Cost, than the value of the increase
Product-Value Attributes can be articulated independently of the specific Means (designs) used for reaching a specific Product-Value Level – even though all Product-Value Levels depend on the particular designs used to achieve them
• A specific Product-Value can be a described in terms of a Complex Concept, consisting of multiple Complex and/or Elementary Product-Value Concepts
Product-Value is variable (along a definable Quantification-Scale: as are all Scalar Attributes)
Product-Value Levels are capable of being specified quantitatively (as are all Scalar Attributes)
Product-Value Levels can be measured in practice
Product-Value Levels can be traded off to some degree; with other System Attributes valued more by Stakeholders
Product-Value can never be perfect (100%), in the real world
• There are some Levels of a specific Product-Value that may be outside the state of the art at a defined time and under defined circumstances
• When Product-Value Levels increase towards perfection, the Resources needed to support those Levels tend towards infinity

URL: here is a link to other opinions of defining the word Quality:
http://www.Qualitydigest.com/html/Qualitydef.html


Keyed-Icons

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Drawn-Icons

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Product
Product-Function
Stakeholder-Value
Quantification-Scale Scale
Past Status Tolerable Goal Wish Record


History-of-Concept

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This Concept entered by Kai.

Created by system. Last Modification: Saturday 03 of November, 2018 17:38:39 CET by Admin (Kai).