The competitive use of information systems is a well researched topic. While these frameworks help in the choice of information systems to provide strategic value, the approval and funding of these systems depends solely on the business justification and strategic value of these applications as viewed by top management. In this paper, we present the theoretical conceptualization and validation of an instrument to measure the perceptions of top management on the strategic value of information systems (PSVIS). Responses for the PSVIS items from a sample of seventy one senior level managers were used in measuring PSVIS. Factor analysis was used to determine the factor loadings and to empirically test the theoretical conceptualization of the dimensions of PSVIS presented. The reliability and validity values of the instrument were both high and indicate high confidence in the measurement of PSVIS.