There has been a long-running discourse in the information systems literature around the business value of IT (BVIT). Researchers have adopted a myriad of conceptual, theoretical and analytical approaches to evaluating the tangible and intangible measures of BVIT. Little research however, has explored richer theoretical explanations of the dynamic nature of the BVIT processes in contemporary dynamic business environments. To address this gap, this research in progress seeks to explore how BVIT is created as a bottom-up emergent process. In pursuit of such understanding, this research embraces complex adaptive systems (CAS) theory to develop a bottom-up conceptual model of BVIT. The agent-based modelling (ABM) technique is introduced as an analytical tool for computationally representing and examining the CAS model of BVIT. Operationalization of the CAS model and ABM modelling will be demonstrated through a theory building exercise.