4.1

Question 1

What is the first component of the Service Value System?

Answer 1

Guiding principles - Recommendations that can guide an organization in all circumstances, regardless of changes in its goals, strategies, type of work, or management structure.

Question 2

What is the second component of the Service Value System?

Answer 2

Governance - The means by which an organization is directed and controlled.

Question 3

What is the third component of the Service Value System?

Answer 3

Service value chain - A set of interconnected activities that an organization performs to
deliver a valuable product or service to its consumers and to facilitate value realisation.

Question 4

What is the fourth component of the Service Value System?

Answer 4

Practices - Sets of organizational resources designed for performing work or accomplishing an objective.

Question 5

What is the fifth component of the Service Value System?

Answer 5

Continual improvement - A recurring organizational activity performed at all levels to ensure that an organization’s performance continually meets stakeholders’ expectations. ITIL 4 supports continual improvement with the ITIL continual improvement model.