ITIL 4 -- Chapters 1 & 2 Questions and answers latest 2023

ITIL 4 -- Chapters 1 & 2 Questions and answers latest 2023ITIL SVS (Service Value System) -Service value chain -Practices -Guiding principles -Governance -Continual Improvement 4 Dimensions model 1. Organizations and People 2. Information and Technology 3. Partners and Suppliers 4. Value Streams and Processes Service Management A set of specialized organizational capabilities for enabling value for customers in the form of services Value The perceived benefits, usefulness, and importance of something. It is co-created between the consumer and the provider. Organization A person or a group of people that has its own functions with responsibilities, authorities, and relationships to achieve its objectives. Customer A person who defines the requirements for a service and takes responsibility for the outcomes of service consumption. User A person who uses services. Sponsor A person who authorizes budget for services consumption. Services A 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 A configuration of an organization's resources designed to offer value for a consumer. Service offering A formal description of one or more services, designed to address the needs of a target consumer group. Examples may include goods, access to resources, and service actions. Service relationship A cooperation between a service provider and service consumer. Examples include service provision, service consumption, and service relationship management. Service provision Activities performed by an organization to provide services. Includes: -management of the provider's resources, configured to deliver the service -ensuring access to these resources for users -fulfillment of the agreed service actions -service level management and continual improvement Service consumption Activities performed by an organization to consume services. Includes: -management of the consumer's resources need to use the service -service actions performed by users, including utilizing the providers resources, and requesting service actions to be fulfilled Service relationship management Joint activities performed by a service provider and a service consumer to ensure continual value co-creation based on agreed and available service offerings. Output A tangible or intangible deliverable of an activity Outcome A result for a stakeholder enabled by one or more outputs Cost The amount of money spent on a specific activity or resource