Definition: gain(s) or benefit(s) from satisfying needs and expectations, in relation to the use and conservation of resources.

Notes on definition:

• Note 1 to entry: Value is relative to, and determined by the perception of, those interested party(ies) able to capture it.
• Note 2 to entry: Value can be financial or non-financial, e.g., social, environmental, other gains or benefits.
• Note 3 to entry: Value is dynamic over time.

Source: ISO 59004:2024 ISO 56000:2020, modified

Type of source: Standards

CLEPA comments:

• Comment 1: examples are Revenue, savings, productivity, sustainability, satisfaction, empowerment, engagement, experience, public health, trust.