Loading...
 

definition-Value

Definition:

Value is perceived benefit: that is, the benefit we think we get from something.

Alternative Names

Concept Number: *269
English Master: Value
Synonyms, Variations & Acronyms: Stakeholder-Value Product-Value Worth *269

Detailing

none


Illustrations

Oscar-Wilde.png
“Nowadays, people know the Cost of everything and the value of nothing.”
Illustration: Oscar Wilde. Irish Poet, wit and dramatist (1854 – 1900)


Type

System Concept, Priority Data


Examples

none


Notes

1. Stakeholder-Value is the potential consequence of System Attributes, for one or more Stakeholders.

2. Value is not linearly related to a Product-Value: for example, a small change in an Product-Value Level could Add immense perceived value for one group of Stakeholders for relatively low Cost.

3. Value is the perceived usefulness, worth, utility, or importance of a defined System Component or System state, for defined Stakeholders, under specified Conditions.

“One man”s meat is another man”s poison.”
-Old proverb

4. “Benefit” is when some perceived value is actually produced by, a defined System.

5. Value is relative to a Stakeholder: it is not absolute.

6. Product-Value, for example, is stated in terms of the objective Level of “how well” a System performs, irrespective of how this Level is appreciated by any Stakeholders. Some defined Levels of Product-Value only have a value to some Stakeholders. The same is true for all Attributes.

7. There are many Planguage ways of indicating that a Stakeholder values an Attribute. These include using Stakeholder, Authority, Impacts, and Source Parameters.

8. Value perception can related to any time, Past, present or future.


Keyed-Icons

+>

“adds value to”

Explanation: A +> B Means; A (some Action) adds value to B.

Example:
Reliability:
Scale: MTBF.
Goal: 30,000 hours.
Value [Goal, At Release] +> Early Sales +> Market Share +> Annual Revenue.
A Value-Chain: The benefit of reaching the specified Goal is indicated as a series of added value Impacts (“+>“) to different performance indicators. We value the 30,000 hours MTBF (mean time between failure) for the ultimate benefit we expect to get from Annual Revenue/


Drawn-Icons

none


Benefit *009
Impacts *334
Values *592


History-of-Concept

none









This Concept entered by Kai.

Created by system. Last Modification: Thursday 11 of July, 2019 21:12:50 CEST by Admin (Kai).
(Cached)