Terms & Definitions Flashcards
(41 cards)
Value
The perceived benefits, usefulness, and importance of something.
Service Management
A set of specialized organizational capabilities for enabling value for customers in the form of services.
Organization
A person or a group of people that has its own functions with responsibilities, authorities, and relationships to achieve its objectives.
Can be a single person, a team, a legal entity (company, charity, etc), a government department, public sector body, etc.
Co-creation
The idea that active customer involvement is necessary to offer valuable services. Co-creation focuses on customer experience and interactive relationships.
Service Provider
The organization providing an IT service.
Can be internal to the same organization as the customer or an external organization.
Receive value by funding, loyalty from consumers, further business development, and enhanced reputation.
Stakeholder
A person or organization that has an interest or involvement in an organization, product, service, practice, or other entity.
Service Relationship
A cooperation between a service provider and a service consumer. Include service provision, service consumption, and service relationship management.
Service Consumer
The person or organization that is receiving a service.
Receive value by receiving benefits and optimizing costs and risks.
Customer
The role the defines the requirements for a service and takes responsibility for the outcomes of service consumption.
User
The role that uses services
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.
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.
Product
A configuration of an organization’s resources designed to offer value for a consumer.
Output
A tangible or intangible deliverable of an activity
Outcome
A result for a stakeholder enabled by one or more outputs.
How is Value Created?
Value is created when a service has more positive than negative effects.
Negative effects include affected outcomes, costs introduced, and risks introduced.
Positive effects include supported outcomes, costs removed, and risks removed.
Risk
A possible event that could cause harm or loss or make it difficult to achieve objectives. Uncertainty of outcome and can be used in the context of measuring the probability of positive outcomes as well as negative outcomes.
Utility
Describes what a service does (fit for purpose).
The functionality offered by a product or service to meet a particular need.
Warranty
Describes how a service performs (fit for use).
The assurance that a product or service will meet agreed requirements.
What factors contribute to Service Viability?
Cost, Risk, Utility, & Warranty
Service Offerings
A 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.
Goods (as it pertains to service offerings)
Ownership is transferred to the consumer who assumes responsibility for future use of the goods
Access to Resources (as it pertains to service offerings)
Ownership is not transferred to the consumer; access is granted or licensed under agreed terms and conditions.
Service Actions (as it pertains to service offerings)
Performed by the provider to address a consumer need; performed IAW the agreement with the customer.
