Service Management	A set of specialized organizational capabilities for enabling value to customers in the form of services
Governance	The means by which an organization is directed and controlled
Value	The perceived benefits, usefulness and importance of something
Organization	A person or a group of people that has its own functions, responsabilities, and relationships to achieve its objectives
Service Provider	A role performed by an organization in a service relationship to provide services to consumers
User	A person who uses services
Customer	A person who defines the requirements for a service and takes responsability for the outcomes of service consumption
Sponsor	A person who authorizes the budget for service consumption
Service	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	Configuration of resources created by the organization that will be potentially valuable for its customers
Service offering	A description of one or more services designed to address the needs of a target consumer group
Service offerings	Can include goods, access to resources, and service actions
Goods	Things that are transfered from the service provider to the consumer, and then the consumer is responsible for their future use
Access to Resources	Access to resources are granted or licensed to a consumer under agreed terms and conditions.
Service Action	Actions performed to address a consumers needs
Service Relationships	A cooperation between a service provider and service consumer including service provision, service consumption, and service relationship management
Service Provision	The activities performed by an organization to provide the services
Service Consumption	The activities performed by an organization to consume the services
Service Relationship	The activities that the service provider and the service consumer do together to enable value co-creation to occur based upon the service offerings
Outcome	A result for a stakeholder, enabled by one or more outputs
Output	A tangible or intangible deliverable of an activity
COSTS	The amount of money spent on a specific activity or resource
Risks	A possible event that could cause harm, loss, or make it more difficult to achieve objectives.
Utility	Functionality offered by a product or service to meet a particular need "What a service does"
Warranty	Assurance that a product or service will meet agreed requirements "How the service performs"

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