Summary of Terminology Flashcards
What is Service Management?
A set of specialized organizational capabilities for enabling value for customers in the form of services.
What is Value?
The perceived benefits, usefulness and importance of something
What is an Organization?
A person or a group of people that has its own functions with responsibilities, authorities and relationships to achieve its objectives.
What is a Customer?
The role that who defines the requirements for a service and takes responsibility for the outcomes of service consumption.
What is a User?
The role that person who uses services.
What is Sponsor?
The role that authorizes budget for service consumption.
What is a Service?
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.
What is a Product?
A configuration of an organization’s resources designed to offer value for a consumer
What is Service Offering?
A formal description of one or more services, designed to address the needs of a target consumer group. A service offering may include goods, access to resources, and service actions
What is Service Relationship?
A co-operation between a service provider and service consumer. Service relationships include service provision, service consumption and service relationship management.
What is Service Relationship Management?
Joint activities performed by a service provider and a service consumer to ensure continual value co-creation based on agreed and available service offerings.
What is Service provision ?
Activities performed by an organization to provide services
What is Service consumption?
Activities performed by an organization to consume services.
What is an Outcome?
A result for a stakeholder enabled by one or more outputs.
What is an Output?
A tangible or intangible deliverable of an activity.
What is a Cost ?
The amount of money spent on a specific activity or resource. Costs can be expressed in non-monetary terms, such as time spent and people allocated.
What is a Risk?
A possible event that could cause harm or loss, or make it more difficult to achieve objectives.
What is a Utility?
The functionality offered by a product or service to meet a particular need.
What is a Warranty?
Assurance that a product or service will meet agreed requirements.
What is a Value stream?
A series of steps an organization undertakes to create and deliver products and services to consumers.
What is a Process?
A set of interrelated or interacting activities that transforms inputs into outputs. Processes define the sequence of activities and their dependencies.
What is an IT asset?
Any financially valuable component that can contribute to the delivery of an IT product or service.
What is Configuration item (CI) ?
Any component that needs to be managed in order to deliver an IT service.
What is Event?
Any change of state that has significance for the management of a service or other configuration item (CI). Events are typically recognized through notifications created by an IT service, CI, or monitoring tool.
