Glossary Terms Flashcards
What is the definition of 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 the definition of Utility?
The functionality offered by a product or service to meet a particular need.
What is the definition of Warranty?
Assurance that a product or service will meet agreed requirements.
What is the definition of Customer?
The role that defines the requirements for a service and takes responsibility for the outcomes of
service consumption.
What is the definition of User?
The role that uses services.
What is the definition of Service Management?
A set of specialized organizational capabilities for enabling value for customers in the form of services.
What is the definition of Sponsor?
The role that authorizes budget for service consumption. Can also be used to describe an organization or individual that provides financial or other support for an initiative.
Describe Cost
The amount of money spent on a specific activity or resources (Cost can be expressed in non-monetary terms, such as time spent, people allocated, etc.)
Describe Value
The perceived benefits, usefulness, and importance of something.
Describe Organization
A person or a group of people that has its own functions with responsibilities, authorities, and relationships to achieve its objectives.
Describe Outcome
A result for a stakeholder enabled by one or more outputs.
Describe Output
A tangible or intangible deliverable of an activity.
Describe Risk
A possible event that could cause harm or loss, or make it more difficult to achieve objectives. Can also be defined as uncertainty of outcome, and can be used in the context of measuring the probability of positive
outcomes as well as negative outcomes.
Describe Utility
Utility can be summarized as ‘what the service does’ and can be used to determine whether a service is ‘fit for purpose’. To have utility, a service must either support the performance of the consumer or remove constraints from the consumer. Many services do both.
Describe Warranty
Warranty can be summarized as ‘how the service performs’ and can be used to determine whether a service is ‘fit for use’
What is a 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 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 and/or goods.
What is Service Consumption?
Activities performed by an organization to consume services and/or goods.
Describe the ITIL Guiding Principles
Recommendations that can guide an organization in all circumstances, regardless of changes in its goals, strategies, type of work, or management structure.
Name the 7 Guiding Principles
Focus on value, Start where you are, Progress iteratively with feedback, Collaborate and promote visibility, Think and work holistically, Keep it simple and practical, Optimize and automate
Which Guiding Principle “Maps everything directly or indirectly to value for the stakeholders”?
Focus on Value.
Which Guiding Principle “Identifies what can be reused”?
Start where you are.
Which Guiding Principle “Takes an incremental approach and resists doing everything all at once”?
Progress iteratively with feedback.
