Definitions Flashcards
Define a Service
A means of enabling value co-creation by facilitating outcomes customers want to achieve without the customer having to manage specific costs and risks.
Define a Product
A configuration of an organization’s resources designed to offer value for a customer
Define Service Management
A set of specialized organizational capabilities for providing value to customers in the form of services.
Define IT Service Management
The implementation and management of quality IT services that meet business need. Provided by service providers through a mix of people, process and technology.
Define Value
The perceived benefits, usefulness and importance of something.
Define an Organization
A person or a group of people that has its own functions with responsibilities, authorities and relationships to achieve its objectives.
Define a Customer
A person who defines the requirements for a service and takes responsibility for the outcomes of service consumption.
Define a User
A person who uses services.
Define a Sponsor
A person who authorizes budget for service consumption.
Define a 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/or service actions.
What is a Good?
A service offering where ownership is transferred to the customer.
What is “Access to Resources”?
A service offering where ownership is NOT transferred to the customer, but access IS provided.
What is a “Service Action”?
A service offering is performed by the provider to address a consumer need, providing support.
Define a Service Relationship
A co-operation between a service provider and service consumer.
Define a Service Provision
Activities performed by an organization to provide services: (a) access to a system or (b) management of resources to provide services.
Define Service Consumption
Activities performed by an organization to consume services.
Define 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.
Define Value Stream
A series of steps an organization undertakes to create and deliver products and services to consumers.
What does SVS stand for?
Service Value System
What does SVS (Service Value System) do?
It defines how components and activities work together to facilitate VALUE CREATION.
Customer Need, Opportunity and Demand is the INPUT.
What are the components of the SVS?
Guiding Principles - (Recommendations)
Governance - (Evaluate Stakeholder Needs & Compliance)
Service Value Chain - (Operating Model, visualize the activities)
Practices - (Resources Needed)
Continual Improvement - (Improvement within the Operating Model)
What is the difference between Cost Removed vs. Cost Imposed?
Cost Removed from the customer by the service being hired (think: hiring a yard man)
Cost Imposed: The cost of the service.
What is Risk?
A possible event that could cause harm or loss, or make it more difficult to achieve objectives.
What are the two factors of Value Creation?
Utility and Warranty
What is Utility?
Utility defines if it’s “For for Purpose”
What is the functionality offered by a product or service to meet a particular need.
What is Warranty?
Warranty defines “Fit for Use”
The assurance that a product or service will meet agreed requirements.
What is an Output?
A tangible or intangible deliverable of an activity. It “contributes” to the outcome.
What is an Outcome?
A RESULT for a stakeholder enabled by one or more outputs.
What is a Process?
A set of interrelated or interacting activities that transform inputs into outputs.
What are the characteristics of a Process?
Responds to a specific event or has a trigger.
Delivers a specific result.
Delivers value or primary results to a customer or stakeholder.
Measureable
What is a Practice?
A set of organizational resources designed for performing work or accomplishing an objective. These resources are grouped into the four dimensions of service management.
What are the four dimensions of Service Management?
Organizations & People (R&R)
Information & Technology
Partners & Suppliers
Value Streams & Processes
