ITIL 4 Module glossary

Service Management

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

Value

The perceived benefits, usefulness and importance of something.

Customer

 Defines requirements for services.

User

A person who uses the service.

Sponsor

Authorizes budgets for services.

Supplier

External partner who provides services to the organization.

Organization

A group of people that has its own functions, responsibilities and authorities to achieve specific objectives.

Service

The 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 or resources, created by the organization, that will be potentially valuable to customers.

Service Offering

A specific mix of services and products sold to a specific customer.

Output

A tangible or intangible deliverable of an activity.

Outcome

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

Cost

can be removed from the customer (part of value proposition) and can be imposed on the customer (price for service consumption).

Risk

Uncertainty of outcome. Can be good (opportunity) or bad (hazard)

Utility

Fit for purpose. Service does what it is meant to do.

Warranty

Fit for use. Service does this good enough.