Definition:
Concept Number: *269
English Master: Value
Synonyms, Variations & Acronyms: Stakeholder-Value Product-Value Worth *269
Detailing
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Illustrations
“Nowadays, people know the Cost of everything and the value of nothing.”
Illustration: Oscar Wilde. Irish Poet, wit and dramatist (1854 – 1900)
Type
Examples
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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
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Related-Concepts
Benefit *009
Impacts *334
Values *592
History-of-Concept
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