Key definitions
There are many key definitions and best practices that you will need to be familiar with. We will look at each of these beyond the simple definition, defining why these terms are important to the best-practice guidance available and how they would be applied in the implementation of best practices.
One of the more important definitions in service management is the definition of value. Value is defined as the perceived benefits, usefulness, and importance of something. One of the key characteristics of value is the element of perception. As beauty is in the eye of the beholder, so too is the value as perceived by the recipient of the product or service. The recipient of the product or service will want to determine, does this result satisfy my need, does it produce the result expected, and is the cost reasonable for the result achieved? A no to any of these questions and there will be concern that the value is not there. The need is characterized by the stated requirements...
