THE SERVICE VALUE SYSTEM

Question 1

The ITIL Service Value System (SVS) is

Answer 1

The ITIL Service Value System (SVS) is “a model representing how all the components and activities of an organization work together to facilitate value creation.”

Question 2

ITIL SVS

Answer 2

“The ITIL SVS describes how all the components and activities of an organization work together as a system to enable value creation. Each organization’s SVS has interfaces with other organizations, forming an ecosystem that can in turn facilitate value for those organizations, their customers, and their stakeholders.”

Question 3

Opportunity/demand

Answer 3

Opportunities represent options or possibilities to add value for stakeholders or otherwise improve the organisation. Demand is the need or desire for products and services that originates from internal and external consumers.

Question 4

Value

Answer 4

The outcome of the SVS is value. The SVS can enable the creation of different types of value for different stakeholders.

Question 5

Guiding principles

Answer 5

The guiding principles are recommendations that can guide an organisation in all circumstances, regardless of changes in goals, strategies, types of work or management structure.

Question 6

Governance

Answer 6

Governance is the means by which an organisation is directed and controlled. Governance activities include evaluate, direct and monitor.

Question 7

Service value chain

Answer 7

The service value chain is a set of interconnected activities that an organisation performs in order to deliver a valuable product or service to its consumers and to facilitate value realisation.

Question 8

Practices

Answer 8

The ITIL practices are sets of organisational resources designed for performing work or accomplishing an objective.

Question 9

Continual improvement

Answer 9

Continual improvement is a recurring organisational activity performed at all levels to ensure that an organisation’s performance is always aligned to changing stakeholder expectations.