ITIL 4 Study Cards - General Terminology

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. (T)

Service (T)

A configuration of an organization's resources designed to offer value to a consumer. (T)

Product (T)

The perceived benefits, usefulness, and importance of something. (T)

Value (T)

The functionality offered by a product or service to meet a particular need; fitness for purpose. (T)

Utility (T)

The assurance that a product or service will meet agreed requirements; fitness for use. (T)

Warranty (T)

A tangible or intangible deliverable of an activity. (T)

Output (T)

(If you can tickle the tips of the t's it's tangible or intangible!)

👉t t👈

A result for a stakeholder enabled by one or more outputs. (T)

Outcome (T)

(If it makes the stakeholders...

🍆💦 🍑💦

it's an outCOME!)

The amount of money spent on a specific activity or resource. (T)

Cost (T)

A possible event that could cause harm or loss, or make it more difficult to achieve objectives. (T)

Risk (T)

A set of specialized organizational capabilities for enabling value to customers in the form of services. (T)

Service Management (T)

A person or a group of people that has its own functions with responsibilities, authorities, and relationships to achieve its objectives. (T)

Organization (T)

A person who defines the requirements for a service and takes responsibility for the outcomes of service consumption. (T)

Customer (T)

A person who uses services. (T)

User (T)

A person who authorizes budget for service consumption. (T)

Sponsor (T)

A description of one or more services, designed to address the needs of a target consumer group. It includes goods, access to resources, and service actions. (T)

Service Offering (T)

The joint activities performed by a service provider and a service consumer to ensure continual value co-creation based on agreed and available service offerings. (T)

Service Relationship Management (T)

The activities performed by an

organization to provide services, including 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. It may also include the supply of goods.

Service Provision (T)

"The Give" ☯️

The activities performed by an organization to consume services. It includes the management of the consumer's resources needed to use the service, service actions perform by users, and the receiving (acquiring) or goods (if required).

Service Consumption (T)

"The Take" ☯️