Concepts And Overarching Ideas

Question 1

What is the service Value System?

Answer 1

Guiding Principles
Governance
Service Value Chain
Practices
Continual Improvement

Question 2

What are the four dimensions of Service Management?

Answer 2

Organization and people
Information and technology
Partners and suppliers
Value streams and processes

Question 3

What is Service?

Answer 3

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 4

Service Management

Answer 4

The implementation and management of quality IT services that meet the needs of the business.

Question 5

What is Utility

Answer 5

Fit for purpose or objective functionality what the service does

Question 6

What is warranty

Answer 6

Fit for use, assurance that the service will continue

Question 7

Who are stakeholders?

Answer 7

Customer who defines requirements of a service
User who consumes a service
Sponsor who authorized the budget for service consumption

Question 8

What does VOCR stand for

Answer 8

Value, Outcomes, Cost, Risk

Question 9

What is Value (VOCR)

Answer 9

Perceived benefits, usefulness and importance of something

Question 10

What is Outcomes (VOCR)

Answer 10

Benefit/Value, it is positive vs Outcome which is tangible, deliverable, activity

Question 11

What is Cost (VOCR)

Answer 11

The amount of money spent on a specific activity or resource

Question 12

What is Risk (VOCR)

Answer 12

Unknown, possibility, uncertainty of the outcome. Could be positive or negative

Question 13

What is Product?

Answer 13

A configuration of an organizations resources designed to offer value for a consumer.

Question 14

What is a Service Offering?

Answer 14

A description of one or more services, designed to address the needs of a target consumer group. It may include goods, access to resources and service actions.

Question 15

What is a Service Provider

Answer 15

A role performed by an organization in a service relationship to provide services to consumers and present service offerings to consumers to meet specific needs. Consumer groups may either be internal or external to the service provider organization.

Question 16

What are the components of a Service Offering?

Answer 16

Goods, Access to Resources, Service Actions

Question 17

What are goods based on Service Offering?

Answer 17

Output, supplied to a consumer, consumer attains ownership and responsibility. Example: Mobile Application

Question 18

What are Access to Resources based on Service Offering?

Answer 18

Provider retains ownership, consumer receives controlled access or a license to resources. Example: Access and storage to an application data

Question 19

What are Service Actions based on Service Offering?

Answer 19

Service Provider fulfilling the needs of the consumer. Example: User Support

Question 20

What is a Service Relationship?

Answer 20

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

Question 21

What is Service Relationship Management?

Answer 21

Joint activities performed by a service provider and a service consumer to ensure continual value. Co-Creation is based on agreed and available service offerings.
* Service relationships co-create value
* Organizations can take on both roles of service provider and service consumer
* Service relationships are bi-directional

Question 22

What is Service Provision?

Answer 22

Activities performed by an organization in order to provide services such as resource management, fulfilling agreed actions, monitoring continual improvement.
○ Management of provider resources, configured to deliver the service
○ Provision of access to resources for users
○ Fulfillment of agreed service actions
○ Service-level management of service performance and continual improvement
* Supplying of goods

Question 23

What is Service Consumption?

Answer 23

Activities performed in the consumption of a service such as using a providers resources or requesting the fulfillment of actions.
* Consumption of activities include the following:
○ Using a service providers resources to create or update products to address consumers’ needs
○ Receivers of services, including customers, users, and sponsors
○ Management of consumer resources needed to consume the service
○ Utilization of the providers resources and requesting service actions be fulfilled
○ Receipt or acquisition of goods

Question 24

What is the formula for value?

Answer 24

Utility and Warranty