Terms Flashcards
Product
A product is configuration of resources, created
by the organization, that will be potentially
valuable for their customers.
Organization
An organization is a person or group of people
that has its own functions with responsibilities,
authorities, and relationships to achieve its
objectives.
Customer
A customer is the role that defines the
requirements for a service and takes
responsibility for the outcomes of service
consumption.
User
The user is the role that uses services.
Sponsor
The sponsor is the role that authorizes the
budget for service consumption. The term is
also used to describe an organization or
individual that provides financial or other
support for an initiative.
Service Management
Service management is a set of specialized organizational capabilities for enabling value for
customers in the form of services.
Service
A service is 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.
Value
Value is the perceived benefits, usefulness, and
importance of something.
Outcome
An outcome is a result for a stakeholder
enabled by one or more outputs.
Output
An output is a tangible of intangible deliverable
of an activity.
Cost
Cost is the amount of money spent on a
specific activity or resource.
Risk
Risk is a possible event that could cause harm
or loss, or make it more difficult to achieve
objectives (uncertainty of outcome).
Service Relationship Management
Service relationship management are the joint activities performed by a service provider and a service consumer to ensure continual value co-creation based on agreed and available service offerings.
Service Offering
A service offering is 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.
Service Provision
A service provision is the activities performed by an
organization to provide services, including management of the provider’s resources, configured to deliver the service; ensuring access to these resources for users; fulfillment of the agreed service actions; service level management; and continual improvement. It may also include the supply of goods.
Service Consumption
Service consumption is the activities
performed by an organization to consume
services. It includes the management of the
consumer’s resources needed to use the
service, service actions perform by users, and
the receiving (acquiring) or goods (if required).
Goods
Goods - have the ownership transferred to a consumer
Access
Access - Does not have the ownership transferred to a consumer
Actions
Actions - are performed by the provider to address a consumer need
Utility
Utility is the functionality offered by a product
or service to meet a particular need.
• What a service does (fit for purpose)
Warranty
Warranty is the assurance that a product or
service will meet agreed requirements.
• How a service performs (fit for use)
Service Value System
The Service Value System (SVS) is a model representing how all the components and activities of an organization work together to facilitate value creation
Service Value Chain
The Service Value Chain (SVC) is s the innermost
cube containing 6 main activities in the Service
Value System.
Plan
Plan ensures a shared understanding of the
vision, current status, and improvement direction
for all four dimensions and all products and
services across an organization.
Improve
Improve ensures continual improvement of
products, services, and practices across all value
chain activities and the four dimensions of
service management.
Engage
Engage provides a good understanding of
stakeholder needs, transparency, continual
engagement, and good relationships with all
stakeholders.
Design & Transition
Design & Transition ensures products and
services continually meet stakeholder
expectations for quality, costs, & time to market.