The Nature Of Value In ITIL 4: Knowing What Value Is (+Examples)

In my previous article, I have looked at all that you need to know about the differences between ITIL V3 and ITIL 4. In this article, I will be looking at the nature of value in ITIL 4. Follow me as we are going to look at that together in this article.

Service Management is defined as a set of specialised organisational capabilities for enabling value to customers in form of service. Here, you are trying to ensure that customers get the desired value they paid for. You also create an avenue for customers to give you feedback on the services provided.

Before you can develop the specialised organisational capabilities that I have mentioned earlier, you need to understand three basic things. These are:

• The nature of value. this talks about the details of what will be of benefit to a particular group of customers  This at times has much to do with location and taste. What will be of benefit to people living on a Government Reserved Area might be seen as thrash to someone loving in a slum.
• The nature and scope of the stakeholders involved. This has to do with how the final deliverables should like and what it should entails . This has to be considered so that one can know how to go about creating that products or services.
• How value creation is enabled through services, usefulness and importance of something.  value can be seen as the perceived benefits of something. That tells use that what customer A see as value or worthy product night likely be a worthless product to customer B. It also has to do with what that particular customer is looking for in a product or service.

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