Definitions Flashcards
Service
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.
Utility
The functionality offered by a product or service to meet a particular need.
Warranty
Assurance that a product or service will meet agreed requirements.
Customer
A person who defines the requirements for a service and takes responsibility for the outcome of the service consumption.
User
A person who uses services.
Sponsor
A person who authorizes budget for service consumption.
Service Management
A set of specialized organizational capabilities for enabling value for customers in the form of services.
Cost
The amount of money spent on a specific activity or resource.
Value
The perceived benefits, usefulness and importance of something.
Organization
A person or a group of people that has its own functions with responsibilities,
authorities and relationships to achieve its objectives.
Organizations vary in size and complexity, and in their relation to legal entities,
from a single person or a team, to a complex network of legal entities united by
common objectives, relationships and authorities
Outcome
A result for a stakeholder enabled by one or more outputs.
Output
A tangible of intangible deliverable of an activity
Risk
A possible event that could cause harm or loss, or make it more difficult to
achieve objectives. Risk can also be defined as uncertainty of outcome, and can
be used in the context of measuring the probability of positive outcomes as well
as negative outcomes.
Service offering
A description of one or more services, designed to address the needs of a target
consumer group. A service offering may include goods, access to resources, and
service actions
Service relationship management
Joint activities performed by a service provider and a service consumer to ensure
continual value co-creation based on agreed and available service offerings
