It's commonly said "value is in the eye of the beholder", meaning: the price of value is what someone is willing to pay.
Fair enough. No willing buyer: no practical value. Many potential buyers: let demand drive the value (Some would call this phenomenon bubble economics .... perhaps)
If the market is "efficient" -- meaning everyone has access to all the relevant information -- then value, like water, should find it's own level.
Then, along comes this idea, usually tagged to an intangible:
"There is no right or wrong value. Value is only a matter of adoption and enthusiasm"In other words: there's no comparable benchmark. The intangible is what it is to those who want it for whatever the reasons.
Now comes project management: How do you build a business case around outcomes with no benchmark; no idea of a right value -- whether too high or too low?
Answer: it's a crap shoot, and such risk separates the bold from the timid. No need to write a book for a business case; you can probably fill it out on a post card.
Perhaps the business can generate its own wind, stirring up demand (I didn't know I needed that!) where there is none, driving both adoption and enthusiasm. But, sometimes both just take off: the smart phone didn't need much of a kick!
Others:
- Sony Walkman comes to mind, but it's a tangible. Similarly the personal computer. Who knew you needed a computer in your house ... didn't they belong in the rooms with the punch cards -- don't fold or staple?
- Digital currencies come to mind. How do they work and what are they worth? And, who says the worth is this or that?
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