Course: ITIL® 4 Foundation eLearning Course

Section: Fundamental Topics

Lesson 04: What is Value?

We talk a lot about ‘value’ (business value), not only in service management, but also in Agile and DevOps, and sometimes in project management. So, let’s take a look at what it means.

Based on AXELOS ITIL® material. Reproduced under licence from AXELOS. All rights reserved.

So, value is a subjective concept, meaning that it’s not an absolute concept independent of its receiver; it’s always “value for someone”. Can you think of something that has different values for different people? Can you describe why this is important to consider this in service management and project delivery?

Again, how is value created according to ITIL? :)

Yes, value is “co-created”.

Do you remember the example of the person who wanted to buy a drill bit? Can you use it to describe the difference between output and outcome?

In your opinion, what’s the output and what’s the [expected] outcome of this course? :)

We’ve tried to be focused on the outcome, instead of the output, but more importantly, we’ve tried to add value. Let us know if we’ve succeeded at the end of the course.

Can you think of a single outcome that can be achieved with different outputs?

Do you remember the difference between utility and warranty?