Lesson 1 Flashcards
The 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
A configuration of an organization’s resources designed to offer value for a consumer
Product
The functionality offered by a product or service to meet a particular need “what the service does” “fit for purpose”
Utility
Assurance that a product or service will meet agreed requirements “how the service performs” “ fit for use”
Warranty
The role that defines the requirements for a service and takes responsibility for the outcomes of service consumption
Customer
The role that uses services
User
The role that authorizes budget for service consumption
Sponsor
The ability of an organization, person, process, application, configuration item, or IT service to carry out an activity
Capability
A person or other entity that is required for the execution of an activity or the achievement of an objective
Resource
A person or a group of people that has its own functions with responsibilities, authorities, and relationships to achieve its objectives
Organization
A person or organization that has an interest or involvement in an organization, product, service, practice, or other entity
Stakeholder
The perceived benefits, usefulness, and importance of something
Value
A set of specialized organizational capabilities for enabling value for customers in the form of services
Service management
A tangible or intangible deliverable of an activity
Output
A result for a stakeholder enabled by one or more outputs
Outcome
The amount of money spent on a specific activity or resource
Cost
A possible event that could cause harm or loss or make it more difficult to achieve objectives
Risk
A description of one or more services, designed to address the needs of a target consumer group
Service Offering
A cooperation between a service provider and service consumer
Service Relationship
Activities performed by an organization to provide services
Service Provision
Activities performed by an organization to consume services
Service Consumption
Joint activities performed by a service provider and a service consumer to ensure continually value co-creation based on agreed and available service offerings
Service Relationship Management
