How Value Co-Creation Works In ITIL 4

In my previous article, I talked about all that you need to know about the nature of value in ITIL 4. In this article, I will be looking at all that you need to know about Value Co-Creation in ITIL 4. Follow me as we will look at that together in this article.

More and more, an organisation recognised that values are co-created through collaboration between providers and customers as well as other Organisations that are part of the relevant service relationships. In achieving the desired values, all stakeholders work together in order to achieve project goals.

In achieving project goals, the IT project manager and the Organisation have to open an avenue for feedback for customers. This will allow the organisation to understand what customers feel about their products and services.

Regarding value co-creation, organisations that provide services are referred to as service providers. At the same time, those that services are being provided are referred to as service consumers.

How Organisations co-creates value

How Organisation is an individual or group of people that has its own functions and responsibilities, authorities and relationships that work together to achieve project objectives.

Organisations vary in size and complexity, and in their relations to complex entities – from a single person or a team to a complex network of legal entities United by common objectives, relationships and authorities.

A good example is an IT department acting as a service provider within a complex organisation.

Typical examples…

A Canadian utility company produced a feasibility analysis for a proposed project involving the use of wind turbines to generate renewable electricity and offset losses incurred from rising oil prices. The data to be analysed include:

Historical data such as wind data collected over a year, a wind energy assessment, and a wind speed frequency distribution.
Technical data, including the analysis of the anticipated power quality and stability.
Financial and economic data, including detailed information about project costs, capital expenditures and operational and management costs.
A summary of impacts on the environment, sound, wildlife, public safety, and land use.
A conclusion that summarised the analyst’s findings and a recommendation regarding the wind turbine’s feasibility.

Action Point

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