Service - (correct answer) Enabling value co-creation by facilitating outcomes that
customers want to achieve without the customer having to manage specific costs and
risks.
Utility - (correct answer) Fit for Purpose. Service does what it is meant to do.
Warranty - (correct answer) Fit for use. Assurance that a product or service will
meet agreed requirements.
Customer - (correct answer) Defines requirements for service.
User - (correct answer) A person who uses services.
Service Management - (correct answer) A set of specialized capabilities for enabling
value for customers in the form of services.
Sponsor - (correct answer) Authorizes budgets for services
Cost - (correct answer) The amount of money spent on a specific activity or
resource.
Value - (correct answer) The perceived benefits, usefulness and importance of
something.
Organization - (correct answer) A group of people that has its own functions with
responsibilities and authorities to achieve specific objectives.
Outcome - (correct answer) A result for a stakeholder enabled by one or more
outputs.
Output - (correct answer) A tangible or intangible deliverable of an activity.
Risk - (correct answer) Uncertainty of outcome. Can be good (opportunity) or bad
(hazard)
Utility - (correct answer) A service must either support the performance of the
consumer or remove constraints from the consumer.
Warranty - (correct answer) 1. Often relates to service levels aligned with the needs
of service consumers.
2. Addresses such areas as the availability of the service, its capacity, levels of security
and continuity.
, What are the 4 key concepts of service relationships? - (correct answer) 1. Service
Offering
2. Service Relationship Management
3. Service Provision
4. Service Consumption
Service Offering - (correct answer) A specific mix of services and products sold to a
specific customer.
Service Relationship Management - (correct answer) Establishes and nurtures links
between organizations and stakeholders at strategic and tactical levels.
Service Provision - (correct answer) Activities performed by an organization to
provide services.
Service Consumption - (correct answer) Activities performed by an organization to
consume services.
Focus on Value - (correct answer) Everything you do must be somehow (directly or
indirectly) valuable to your stakeholders. Best be served by understanding the cost and
financial consequences that a service consumer might face when choosing to use a
service.
Start Where You Are - (correct answer) Reuse existing resources whenever
possible instead of reinventing the wheel over and over again
Progress Iteratively With Feedback - (correct answer) Don't do everything at once.
Take baby-steps instead. Learning by doing with lots of feedback
Collaborate and Promote Visibility - (correct answer) Involve the right people at the
right time and gather factual data to make the right decisions. Recognizes the
complexity of a system and seeks to understand the relationships between the various
components that make up a service
Think and Work Holistically - (correct answer) Nothing is ever alone Think about the
effect of your initiative or work on other components. Work on the system not just it's
parts.
Keep it Simple and Practical - (correct answer) Don't overcomplicate work. Use the
least possible steps. Outcome based thinking helps.
Optimize & Automate - (correct answer) Maximize the value of human work.
Automate only after optimization. Apply DevOps. The use of technology with limited or
no human intervention.
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