In the service industry, delivery of services with expected quality is of utmost importance in order to fulfill end user requirements. In the present scenario, the global economy highlights issue of significantly increasing pressure experienced by the service industry to operate at higher speeds to deliver the services with the quality desired and value to cope up with cut throat competition present in the global market. An information technology (IT) service is one of among various other services which have always played a key role in dealing difficulties related to delivery of various services for the industries or organizations. The IT service delivered by an IT vendor may result in generation of a business value for the industry or the organization. Generally, the business value of any industry or an organization is articulated quantitatively based on Return on Investment (ROI) which is widely used to measure the effectiveness of the investment made for the IT services in the industry and also to compute the business value generated by the industry or the organization after implementing the IT services.
Most of traditional methods of articulation of the business value are based on improvement in the quality levels of the service delivered by the IT services. One of such methods, a business value gained by an organization for the qualities procured in the IT services is determined in terms of value realization index (VRI). In this method, the VRI is articulated based upon delivered quality level and promised quality level of the IT services. In the method for articulation of the VRI, the articulation of the VRI is dependent on a single-scale of 0 to 100. Further the present method fails to represent various quality levels of the IT services and hence failed to represent direct measures of various qualities of the IT services.