“Nowadays, people know the Cost of everything and the value of nothing.”
Illustration: Oscar Wilde. Irish Poet, wit and dramatist (1854 – 1900)
“One man”s meat is another man”s poison.”
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.
8. Value perception can related to any time, Past, present or future.
“adds value to”
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/