ITIL 4 Foundation Practice Exam

What is IT Service Management? A set of specialized organizational capabilities for enabling value to customers in the form of services. ITSM is the application of service management to IT. It is our discipline; how we all work together Organization A person or a group of people that has its own functions with responsibilities, authorities, and relationships to achieve its objectives Value The perceived benefits, usefulness, and importance of something. The outcome of the SVS. Dimensions of value: (need to be balanced) - cost - quality - speed Cost The amount of money spent on a specific activity or resource. Measures against how much the customer is willing to pay. Services need to be affordable to the customer and profitable or within budget for the provider. Quality Customer requirements and the warranty around service delivery Speed A growing demand for increased time to market and time to value. Quality and cost demands may be met but this may not be sufficient if the service takes too long to deliver Service 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 Service Value System (SVS) Describes how all the components and activities of the organization work together as a system to enable value creation. The purpose is to ensure that the organization continually co-creates value with all stakeholders through the use and management of products and services that can be configured in multiple combinations. Components: -inputs & outputs -the service value chain -the 34 practices -governance -seven ITIL guiding principles -continual improvement Inputs to SVS Opportunity & demand.