ITIL Flashcards
Service MANAGEMENT
A set of specialised organisational capabilities for enabling value for customers in the forms of services
organisation
A person/group that has its own functions with the responsibilities, authorities and relationships to achieve objectives 
Product
A configuration of an organisations resources designed to offer VALUE for a customer 
Service -VORC
A means of enabling value co creation by facilitating outcomes that customers want to achieve without them having to manage costs and risks 
V
O
R
C
Value
The perceived benefits, usefulness and importance of something 
Outcome
Results for a stakeholder 
E.g. used by stakeholder to make a decision
💜 A service is a means of enabling value co-creation by facilitating [?] that customers want to achieve.
Cost
The amount of money spent on activity or resource 
Risk
If possible event that could cause harm or loss or make it difficult to achieve an objective 
Output
Deliverable of an activity 
E.g a report
Customer
Defines the requirements for service and takes responsibility for the outcomes of service consumption 
User
Uses service
Sponsor
Authorises budget 
Utility
The FUNCTIONALOTY offered by a product or service to meet a particular need 
Warranty
ASSURANCE That a product or service will meet the agreed requirements 
Service Relationship Management
Joint activities performed by a provider and consumer to ensure continual value co creation based on agreed and available service offerings 
