Value (glossary)
(1) Numerical or categorical result assigned to a base measure, derived measure or indicator. (PSM May 7, 2010; ISO/IEC/IEEE 2007)
(2) a measure of worth (e.g., benefit divided by cost) of a specific product or service by a customer, and potentially other stakeholders; (McManus 2005)
(3) the regard, merit, importance or worth given to something. It is the basis for showing a preference i.e. making a choice. (Penguin Dictionary of Civil Engineering).
N.B.: Values are shared beliefs about what an organization or its members consider to be important. (1) A personal and/or cultural value is an absolute or relative ethical value, the assumption of which can be the basis for ethical action. A value system is a set of consistent values and measures. (Wikipedia) (2) Values are the principles or standards of behavior. The things to which we give value and which determine how we behave. Some important personal values are truth, honesty, trust, respect for others and for the environment, fairness, making what we do enjoyable for others with whom we interact, openness, competence, sustainability, balance, harmony, reasonableness. Wherever possible key performance indicators (KPIs) should reflect the relevant values within a process of all stakeholders. In this way you have a better chance of driving out waste and adding value to all of those involved. See ethics, worth. – see ethics, morals, codes of conduct. (Penguin Dictionary of Civil Engineering)
Source
(1) PSM. May 7, 2010. Practical Software and Systems Measurement: A Foundation for Objective Project Management. version 4.0 ed. Bethesda, MD, USA: Practical Software and Systems Measurement (PSM).
ISO/IEC/IEEE. 2007. Measurement Process. Geneva, Switzerland: International Organization for Standards (ISO)/International Electronical Commission (IEC)/Institute of Electrical & Electronics Engineers (IEEE), ISO/IEC/IEEE 15939.
(2) McManus, H. L. 2005. Product Development Value Stream Mapping Manual, release 1.0. Boston, MA, USA: Lean Aerospace Initiative (LAI)/Massachusetts Institute of Technology (MIT), PVDSM Manual 1.0.
(3) Penguin Dictionary of Civil Engineering
Discussion
Discussion as to why this is the "consensus" definition for the SEBoK.