System and process for managing an IT infrastructure which collects transaction information on a component basis. The transaction data is used to evaluate the contribution of each component of the system as well as the business value of the service, and for the infrastructure as a whole. The usage data is prepared as reports and used in an IT management workflow model to make decisions about such things as the timing of system upgrades, strategic architectural decisions, timing of sunsetting of service components, both hardware and software, and the return-on-investment (ROI) valuation of IT investments. Component values may be assessed on either a volume (number of transactions) basis, or on the discrete dollar value of the transactions supported by the component.