Value is provided by improving opportunities to achieve organizational objectives, identifying operational improvement, and/or reducing risk exposure through both assurance and consulting services.
From the customer's perspective, value consists of two core components: utility and warranty.
Utility is what the customer receives. Utility is the functionality offered by a service to suit a specific need. Utility is also frequently described as “what a product or service does”. In addition to functionality it can also mean the removal of constraints for the business. And utility increases the performance of the enterprise.
Warranty is how it is provided. It is the commitment or warranty that a product or a service matches the agreed requirements concerning availability, capacity, continuity and security. The service warranty reduces the fluctuations in the service delivery.