This chapter presents positioning PBL not merely as a pedagogical technique but as a learning service system grounded in human-centered design and value co-creation. Drawing on service science and service-dominant logic, the model conceptualizes learning as an interactive process in which students, faculty, and external stakeholders act as resource integrators who jointly construct problems (co-definition) and generate learning value through shared experience (co-experience). Rather than emphasizing solution delivery alone, the proposed framework highlights iterative problem framing, experiential engagement, and reflective feedback as the central mechanism through which theoretical knowledge is enacted and refined in practice. Some examples of PBL implementation in SBM ITB are presented with a story behind the dynamic process of co-definition of the problem and co-experience. This subchapter is expected to enrich the designing of PBL that could bridge theory and practices in business school education.