Value in ITSM Flashcards
Value Definition
The perceived benefits, usefulness, and importance of something.
Output Definition
A tangible or intangible deliverable of an activity.
Outcome Definition
A result for a stakeholder enabled by one or more outputs.
Cost Definition
The amount of money spent on a specific activity or resource.
From the service consumer’s perspective:
1. Costs removed from the consumer by the service (a part of the value proposition)
2. Costs imposed on the consumer by the service (the costs of service consumption)
Risk Definition
A possible event that could cause harm or loss or make it more difficult to achieve objectives. Risk can also be defined as the uncertainty of the outcome and be used in the context of measuring the probability of positive outcomes as well as negative outcomes.
From the service consumer’s perspective:
1. Risks removed from the consumer by the service (a part of the value proposition)
2. Risks imposed on the consumer by the service (the risks of service consumption)
