Key Definitions Flashcards
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
Service
Perceived benefits, usefulness and the importance of something
Value
The amount of money spent on a specific activity or resource
Cost
Possible events that could cause harm, cause loss, or make it more difficult to achieve objectives
Risk
A result for a stakeholder enabled by one or more outputs
Outcome
A tangible or intangible deliverable of an activity
Output
Functionality; what the service does; fit for purpose; supports performance or removes constraints
Utility
The assurance that a product or service will meet agreed requirements; how the service performs; fit for use
Warranty
The assurance that a product or service will meet agreed requirements; how the service performs; fit for use
Warranty
Authorizes the budget for service consumption
Sponsor
A person who defines the requirements for a service and takes responsibility for the outcome of service consumption
Customer
A person who uses services
User
A set of specialized organizational capabilities for enabling value to customers in the form of services
Service Management
A description of one or more services designed to address the needs of a target consumer group; may include goods and access to resources and service actions
Service Offering
The activities performed by an organization to provide services; includes the management of resources, service performance management and continual improvement
Service Provision
The activities performed by an organization to consume services; includes the management of the consumer’s resources needed to use the service
Service Consumption
A co-operation between a service provider and service consumer
Service Relationship
The joint activities performed by a service provider and service consumer to ensure continual value co-creation based on agreed and available service offerings
Service Relationship Management
A person or a group of people that has its own functions with responsibilities, authorities and relationships to achieve its objectives
Organization
Any financially valuable component that can contribute to the delivery of an IT product or service
IT asset
Any change of state that has significance for the management of a configuration item (CI) of IT service
Event
Any component that needs to be managed in order to deliver an IT service
Configuration Item
Used to track and manage improvement ideas from identification through final action; multiple CIRs can be maintained on individual, team, departmental, business unit and organizational levels
Continual Improvement Register (CIR)
The addition, modification or removal of anything that could have a direct or indirect effect on services
Change
