From the course: Putting ITIL® Into Practice: Applying ITIL® 3 Foundation Concepts

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Value creation through services

Value creation through services - ITIL Tutorial

From the course: Putting ITIL® Into Practice: Applying ITIL® 3 Foundation Concepts

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Value creation through services

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- [Instructor] The value of services is achieved through the sum of the utility, that is, the functionality or features of the service, and warranty that is the non-functional qualities, such as, availability, capacity and so on. The value of services is defined by, and resides in the mind of customers, who assess value based on what they get and an affordable mix of features. What it helps them achieve, and what it cost, as well as their preferences, their perceptions, and their comparison to alternative reference values. Along with what they gain and lose in using your service. How can you put the concept of value creation through services to work for you? Here we'll employ the second way, enlighten and empower people. Create a table of your services, with columns for customer perception of value, affordable mix of features, value against alternatives. Rate each and add comments. Add columns for alternatives. Rate each versus alternatives, commenting on what is gained and lost by…

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