For a software project to succeed, acceptable quality must be achieved within an acceptable cost, providing business value to the customers, and keeping delivery time short. Software testing is a strenuous and expensive process and is often not organized to maximize business value. In this article, we propose a practical value based software testing method which aligns the internal test process with the value objectives coming from the customers and the market. Our case study in a real-life business project shows that this method helps manage testing process effectively and efficiently.