Chapter 4 Flashcards
Budget
A list of all the money an organization or business unit plans to receive and plans to pay out over a specified period of time.
Budgeting
The activity of predicting and controlling the spending of money. Budgeting consists of a periodic negotiation cycle to set future budgets (usually annual) and the day-to-day monitoring and adjusting of current budgets.
Business Case
(ITIL Service Strategy) Justification for a significant item of expenditure. The business case includes information about costs, benefits, options, issues, risks, and possible problems.
Charging
(ITIL Service Strategy) requiring payment for IT services. Charging for IT services is optional and many organizations choose to treat their IT service provider as a cost center.
Retire
(ITIL Service Transition) Permanent removal of an IT service or other configuration item from the live environment. Being retired is a stage in the lifecycle of many configuration items.
Return On Investment (ROI)
(ITIL Continual Service Improvement) ( ITIL Service Strategy) A measurement of the expected benefit of an investment. In the simplest sense, it is the net profit of an investment divided by the next net worth of the assets invested.
Risk
A possible event that could cause harm or loss or affect the ability to achieve objectives. A risk is measured by the probability of a threat, the vulnerability of the asset to that threat, and the impact it would have if it occurred. Risk can also be defined as uncertainty of outcome and can be used in the context of measuring the probability of positive and negative outcomes.
Service Catalog
(ITIL Service Design) (ITIL Service Strategy) A database or structured document with information about all live IT services, including those available for deployment. The services catalog is part of the service portfolio and contains information about two types of IT service: customer-facing services that are visible to the business and supporting services required by the service provider to deliver customer-facing services.
Accounting
(ITIL Service Strategy) The process responsible for identifying the actual costs of delivering IT services, comparing these with budgeted costs, and managing variance from the budget.
