Key Definitions

Question 1

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

Answer 1

Service

Question 2

Perceived benefits, usefulness and the importance of something

Answer 2

Value

Question 3

The amount of money spent on a specific activity or resource

Answer 3

Cost

Question 4

Possible events that could cause harm, cause loss, or make it more difficult to achieve objectives

Answer 4

Risk

Question 5

A result for a stakeholder enabled by one or more outputs

Answer 5

Outcome

Question 6

A tangible or intangible deliverable of an activity

Answer 6

Output

Question 7

Functionality; what the service does; fit for purpose; supports performance or removes constraints

Answer 7

Utility

Question 8

The assurance that a product or service will meet agreed requirements; how the service performs; fit for use

Answer 8

Warranty

Question 9

The assurance that a product or service will meet agreed requirements; how the service performs; fit for use

Answer 9

Warranty

Question 10

Authorizes the budget for service consumption

Answer 10

Sponsor

Question 11

A person who defines the requirements for a service and takes responsibility for the outcome of service consumption

Answer 11

Customer

Question 12

A person who uses services

Answer 12

User

Question 13

A set of specialized organizational capabilities for enabling value to customers in the form of services

Answer 13

Service Management

Question 14

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

Answer 14

Service Offering

Question 15

The activities performed by an organization to provide services; includes the management of resources, service performance management and continual improvement

Answer 15

Service Provision

Question 16

The activities performed by an organization to consume services; includes the management of the consumer’s resources needed to use the service

Answer 16

Service Consumption

Question 17

A co-operation between a service provider and service consumer

Answer 17

Service Relationship

Question 18

The joint activities performed by a service provider and service consumer to ensure continual value co-creation based on agreed and available service offerings

Answer 18

Service Relationship Management

Question 19

A person or a group of people that has its own functions with responsibilities, authorities and relationships to achieve its objectives

Answer 19

Organization

Question 20

Any financially valuable component that can contribute to the delivery of an IT product or service

Answer 20

IT asset

Question 21

Any change of state that has significance for the management of a configuration item (CI) of IT service

Answer 21

Event

Question 22

Any component that needs to be managed in order to deliver an IT service

Answer 22

Configuration Item

Question 23

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

Answer 23

Continual Improvement Register (CIR)

Question 24

The addition, modification or removal of anything that could have a direct or indirect effect on services

Answer 24

Change

Question 25

An unplanned interruption to a service or reduction in the quality of a service

Answer 25

Incident

Question 26

A cause, or potential cause, of one or more incidents

Answer 26

Problem

Question 27

A problem that has been analyzed and has not been resolved

Answer 27

Known error

Question 28

A solution that reduces or eliminates the impact of an incident or problem for which a full resolution is not yet available; some workarounds reduce the likelihood of incidents

Answer 28

Workaround