The term used in an organization that is commonplace for no apparent reason to explain why leadership only designates ONE person in the whole organization to be the Point of Contact to be able to fix something that is broken. When this is person or entity isn't available the whole organization - or the specific people affected by the problem are at the mercy of this person returning to work to solve the problem. Single Point of Failure or SPOF is commonly used with another term known as FUBAR - (Fucked Up Beyond All Recognition) because no professional organization would allow a Single Point of Failure to exist.
I'm sorry but we can't fix your computer today because we have a Single Point of Failure (SPOF) in that department. Pay no attention to the man behind the green curtain - he can't fix your computer - the only person who can do that isn't here today. You might want to try and click your heels together and say three times - "there's no place like home - there's no place like home - because if you were at home your internet service provider has an entire staff that is interchangeable and capable of completing most any IT-related task.
Verb
Something Scott totally doesn't want to know what is because it's obviously from the dark corners of the internet... or from Portland... same difference.
We caught Maria spoffing the other night in Vegas and it was unbelievable....