v4 Foundations Flashcards
A set of specialized organizational capabilities for enabling value for customers in the form of services
Service management
The application of service management to IT
ITSM
A means of enabling co-creation by facilitating outcomes that customers want to achieve, without the customer having to manage specific costs and risks
Service
A group of people that has its own functions with responsibilities, authorities, and relationships to achieve its objectives
Organization
The perceived benefits, usefulness, and importance of something
Value
Describes how all the components and activities of an organization work together as a system to facilitate value creation
Service Value System
Ensures that the organization continually co-creates value with all steak holders through the use and management of products and services
Service value system
What is the output of the service value system?
Value
What are the 4 dimensions of service management
Organization and people
Information and technology
Partners and suppliers
Value steams and processes
What factors may influence an organization’s strategy when using suppliers
Strategic focus
Resource scarcity
Corporate culture
Demand patterns
Cost concerns
Subject matter expertise
A series of steps an organization undertakes to create and deliver products and services to consumers
Value stream
A set of interrelated or interacting activities that transform inputs to outputs
Process
The role that defines the requirements for a service and takes responsibility for the outcomes of service consumption
Customer
The role that uses the service
User
The role that authorizes the budget for service consumption
Sponsor
The tangible or intangible deliverable or activity
Output
The result for a steak holder 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
The functionality offered by a product or service to meet a particular need
Utility
Assurance that a product or service will meet agreed upon requirements
Warranty
Cooperation between a service provider and service consumer for the delivery and use of a service offering
Service relationship
A formal description of one or more services designed to address the needs of a target consumer group
Service offering
Joint activities performed by a service provider and service consumer to ensure continual value co-creation based on agreed and available service offerings
Service relationship management
Activities performed by an organization to provide services
Service provision
Activities performed by an organization to consume services
Service consumption
Represents options or possibilities to add value for steak holders or otherwise improve the organization
Opportunities
The need or desire for products and services among internal and external consumers
Demand
What are the 5 components of the Service Value System?
Guiding principles
Governance
Service value chain
Practices
Continual improvement
Recommendations that can guide an organization in all circumstances, regardless of changes in its goals, strategies, types of work, or management structure
Guiding principles
The means by which an organization is directed and controlled
Governance
A set of interconnected activities that an organization performs to deliver a valuable product or service to its consumers to facilitate value realization
Service value chain
Sets of organizational resources designed for performing work, or accomplishing an objective
Practices
A recurring organizational activity performed at all levels to ensure that an organizations performance continually meets stakeholders expectations
Continual improvement
The way in which an organization carries out its work that creates shared values over time
Culture
Represents the steps an organization takes in the creation of value
Service value chain activities
Specific combinations of activities and practices and each one is designed for a particular scenario
Service value streams
Ensure a shared understanding of the vision, current status, and improvement direction for all four dimensions in all products and services across the organization
Plan value chain activity