Ch 5: Values - Outcomes, Costs, And Risks

Question 1

The result for a stakeholder enabled by one or ore outputs

Answer 1

Outcome

Question 2

A deliverable from an activity

Answer 2

Output

Question 3

The primary focus of ITIL is on delivering value to customers through the creation of desired ___.

Answer 3

Outcomes

Question 4

The amount of money spent on a specific activity or resource

Answer 4

Costs

Question 5

A possible event that could cause harm or loss, or make it more difficult to achieve objectives. Can also be defined as uncertainty of outcome, and can be used in the context of measuring the probability of positive outcomes as well as negative outcomes

Answer 5

Risk

Question 6

The functionality offered by a product or service to meet a particular need. Utility can be summarized as ‘what a service does’ and can be used to determine whether a service is ‘fit for purpose’

Answer 6

Utility

Question 7

Assurance that a product or service will meet agreed requirements. Warranty can be summarized as ‘how the service performs’ and can be used to determine whether a service is ‘fit for user’. Warranty often related to service levels aligned with the needs of the service consumer. Warranty typically addresses such areas as availability of a service, its capacity, and levels of security and continuity.

Answer 7

Warranty