Definition(s):
Value refers to:
“Perceived benefit , it is the potential consequence of system attributes, for one or more stakeholders. Value is not linearly related to a system improvement: for example, a small change in an attribute level could add immense perceived value for one group of stakeholders for relatively low cost. Value is the perceived usefulness, worth, utility, or importance of a defined system component or system state, for defined stakeholders, under specified conditions. Value is relative to a stakeholder: it is not absolute“. (IEEE 610.12:1990).
“number or category assigned to an attribute of an entity by making a measurement.” (ISO/IEC 25040-1:2011).
Source(s):
- “IEEE Standard Glossary of Software Engineering Terminology,” in IEEE Std 610.12-1990 , vol., no., pp.1-84, 31 Dec. 1990, doi: 10.1109/IEEESTD.1990.101064.
- SO/IEC, I. O. f. S.; COMMISSION the I. E. “ISO/IEC 25040-1:2011:Systems and Software Engineering – Systems and Software Quality Requirements and Evaluation (SQuaRE) – Evaluation Process. “, 2011.
- Cambridge Dictionary. Avaible at: https://dictionary.cambridge.org/dictionary/english/value.
- Cambridge Dictionary. Avaible at: https://dictionary.cambridge.org/dictionary/english/business.