DION Training ITIL 4 Cram Card Page 1

Product

Is a configuration of resources, created by the organization, that will be potentially valuable for their customers.

Organization

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

Customer

Is the role that defines the requirements for a service and takes responsibility for the outcomes of service consumption.

User

Is the role that uses services

Sponsor

Is the role that authorizes the budget for service consumption. The term is also used to describe an organization or individual that provides financial or other support for an initiative.

Service Management

Is a set of specialized organizational capabilities for enabling value for customers in the form of services.

Service

Is 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.

Value

Is the perceived benefits, usefulness, and importance of something.

Outcome

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

Output

Is a tangible of intangible deliverable of an activity.

Cost

Is the amount of money spent on a specific activity or resource.

Risk

Is a possible event that could cause harm or loss, or make it more difficult to achieve objectives. (Uncertainty of outcome).

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.

Service Offering

A formal description of one or more services, designed to address the needs of a target consumer group. A service offering may include goods, access to resources, and service actions.

Service Provision

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 Consumption

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).

Goods

Have the ownership transferred to a consumer.

Access

Does not have the ownership transferred to a consumer

Actions

Are performed by the provider to address a consumer need

Utility

Is the functionality offered by a product or service to meet a particular need.

•What a service does (fit for purpose).

Warranty

Is the assurance that a product or service will meet agreed requirements.

• How a service performs (fit for use).