Key Concepts and Definitions Flashcards
service
The means of enabling value co-creation by facilitating outcomes that customers want to achieve without the customer having to manage specific cost and risk.
service management
A set of specialized organizational capabilities for enabling value to customers in the form of services
utility
Fit for purpose. Service does what it is meant to do.
warranty
Fit for use. Service does this good enough.
customer
Defines requirements for services
user
A person who uses the service
sponsor
Authorizes budgets for services
cost
Can be removed from the customer (part of value proposition) and can be imposed on the customer (price for service consumption)
value
The perceived benefits, usefulness and importance of something
organization
A group of people that has its own functions, responsibilities and authorities to achieve specific objectives.
outcome
A result for a stakeholder enabled by one or more outputs.
output
A tangible or intangible deliverable of an activity.
risk
uncertainty of outcome. Can be good (opportunity) or bad (hazard).
utility
Fit for purpose. Service does what it is meant to do.
warranty
it for use. Service does this good enough.
