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level: Basic Definitions

Questions and Answers List

level questions: Basic Definitions

Question	Answer
A role performed by an organization in a service relationship to provide services to consumers.	Service Provider
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.	Service
A set of specialised organisational capabilities for enabling value for customers in the form of services. It is a framework of advice and guidance around the delivery of services to customers.	Service Management
The functionality offered by a product or service to meet a particular need. Can be summarised as 'what the service does' and can be used to determine whether a service is 'fit for purpose'.	Utility
Assurance that a product or service will meet agreed requirements. Can be summarised as 'how the service performs' and can be used to determine whether a service is 'fit for use'.	Warranty
UTILITY + WARRANTY =	VALUE (equation)
A person who defines the requirements for a service and takes responsibility for the outcomes of service consumption. This is 'the client'.	Customer
A person who uses services (but does not have negotiating power or pays for it to be made).	User
A person who authorizes budget for service consumption. Can also be used to describe an organization or individual that provides financial or other support for an initiative.	Sponsor
The amount of money spent on a specific activity or resource	Cost
Savings to the customer due to valuable outcomes (want to maximise these)	Costs removed
The price customers are willing to pay for the valuable outcome (want to minimise these)	Costs incurred
The perceived benefit, usefulness and importance of something, that's over and above what they are paying you for it	Value (definition)
A person or group of people that has its own functions with responsibilities, authorities and relationships to achieve its objectives (can be one person or a group).	Organisation
A result for a stakeholder enabled by one or more outputs	Outcome
A tangible or intangible deliverable of an activity	Output
An event that causes harm or loss or makes 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.	Risk
The security and stability for the customer created by a service, which is a part of the value proposition of any outcome (want to maximise these)	Risks removed
The uncertainty for the customer created by a service that negatively impacts the value proposition (want to minimise these)	Risks imposed
A configuration of an organisations resources designed to offer value for a customer	Product
A co-operation between a service provider and service consumer. It includes service provision, service consumption and service relationship management.	Service relationship
Joint activities performed by a service provider and a 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. Includes management of resources, configured to deliver the service, access to these resources for users, fulfilment of the agreed service actions, service performance management and continual improvement. It may also include the supply of goods.	Service Provision
Activities performed by an organization to consume services. Includes the management of the consumer’s resources needed to use the service, service use actions performed by users, and may include the receiving (acquiring) of goods.	Service Consumption
A description of one or more services, designed to address the needs of a target consumer group. It may include goods, access to resources, and service actions.	Service Offering
A role performed by an organization in a service relationship to provide services to consumers.	Service Provider
A person or organization that has an interest or involvement in an organization, product, service, practice, or other entity.	Stakeholder