Basic Definitions

Question 1

Value

Answer 1

The perceived benefits, usefulness and importance of something.

Question 1

Organization

Answer 1

A person or group of people that has its own functions, responsibilities, and relationships to achieve its objectives.

Question 2

Sponsor

Answer 2

A person who authorizes the budget for service consumption.

Question 3

User

Answer 3

A person who uses a service.

Question 4

Customer

Answer 4

A person who defines the requirements for the service and takes responsibility for the outcomes of service consumption,

Question 5

Service provider

Answer 5

An organisation providing a service.

Question 6

Service consumer

Answer 6

An organisation consuming a service.

Question 7

Service

Answer 7

A means of enabling value co-creation by facilitating outcomes that customers want to achieve, without the customer having to manage specific costs and risks.

Question 8

Product

Answer 8

A configuration of resources created by the organisation that will be potentially valuable for its customers. (e.g. a collection of services)

Question 9

Service Offering

Answer 9

It is a description of one or more services designed to address the needs of a target consumer group (e.g. goods, access to resources, service actions).

Question 10

Goods

Answer 10

Transferred from the service provider to the consumer, incl. the responsibility for the goods.

Question 11

Access to resources

Answer 11

Granted or licensed under agreed terms and conditions. Resources remain under service provider’s control.

Question 12

Service action

Answer 12

Action performed to address a consumer’s needs.

Question 13

Service relationship

Answer 13

A cooperation between a service provider and a service consumer including service provision, service consumption, and service relationship management.

Question 14

Service provision

Answer 14

The activities performed by an organisation to provide the services

Question 15

Service consumption

Answer 15

The activities performed by an organisation to consume the services.

Question 16

Service relationship management

Answer 16

The activities performed by the service provider and the service consumer to enable value co-creation to occur based on the service offerings.

Question 17

Service Relationship Model

Answer 17

The chain of service relationships between multiple organisations. In most cases, organisations are both providers and consumers at the same time.

Question 18

Outcome

Answer 18

An outcome is a result for a stakeholder, enabled by one or more outputs

Question 19

Cost

Answer 19

Amount of money spent on a particular resource or activity

Question 20

Risk

Answer 20

A possible event that can cause harm, loss, or make it more difficult to achieve objectives

Question 21

Utility

Answer 21

Functionality offered by a product or service to meet a need (what the service does / fit for purpose).

Question 22

Warranty

Answer 22

Assurance that a product or service will meet the requirements (how it performs / fit for use). Availability, capacity, security levels, continuity.

Question 23

4 Dimensions of IT Service Management

Answer 23

4 perspectives:
- Organisations & People
- Information & Technology
- Partners & Suppliers
- Value Streams & Processes

Question 24

Value Stream

Answer 24

A series of steps an organisation undertakes to create and deliver products and services to service consumers

Question 25

Process

Answer 25

A set of interrelated or interacting activities that transforms inputs into outputs

Question 26

PESTLE

Answer 26

Political, Economic, Social, Technological, Legal, Environmental – all external factors

Question 27

Service Value System

Answer 27

Describes how all the components and activities of the organisation work together as a system to enable value co-creation. Require integration and coordination of activities, practices, teams, etc.

Question 28

Components of SVS

Answer 28

Guiding Principles
Governance
Service Value Chain
Practices
Continual Improvement

Question 29

Opportunity

Answer 29

Represent options of possibilities to add value for stakeholders or otherwise improve the organisation

Question 30

Demand

Answer 30

The need or desire for products and services among internal or external consumers

Question 31

Value

Answer 31

Value is the outcome of the SVS. Different types of value for different groups or organisations.

Question 32

Governance

Answer 32

Means by which an organisation is directed and controlled.

Question 33

Purpose of the Service value system

Answer 33

The purpose of the service value system is to ensure that the organization continually co-creates value with all stakeholders through the use and management of products and services.