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IT asset management practice
The practice of planning and managing the full lifecycle of all IT assets.
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IT infrastructure
All of the hardware, software, networks, and facilities that are required to develop, test, deliver, monitor, manage, and support IT services.
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IT service
A service based on the use of information technology.
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ITIL
Best-practice guidance for IT service management.
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ITIL guiding principles
Recommendations that can guide an organization in all circumstances, regardless of changes in its goals, strategies, type of work, or management structure.
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ITIL service value chain
An operating model for service providers that covers all the key activities required to effectively manage products and services.
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ITIL value chain activity
A step of the value chain that an organization takes in the creation of value.
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Kanban
A method for visualizing work, identifying potential blockages and resource conflicts, and managing work in progress.
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key performance indicator (KPI)
An important metric used to evaluate the success in meeting an objective.
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knowledge management practice
The practice of maintaining and improving the effective, efficient, and convenient use of information and knowledge across an organization.
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known error
A problem that has been analysed but has not been resolved.
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Lean
An approach that focuses on improving workflows by maximizing value through the elimination of waste.
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lifecycle
The full set of stages, transitions, and associated statuses in the life of a service, product, practice, or other entity.
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live
Refers to a service or other configuration item operating in the live environment.
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live environment
A controlled environment used in the delivery of IT services to service consumers.
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maintainability
The ease with which a service or other entity can be repaired or modified.
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major incident
An incident with significant business impact, requiring an immediate coordinated resolution.
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management system
Interrelated or interacting elements that establish policy and objectives and enable the achievement of those objectives.
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maturity
A measure of the reliability, efficiency and effectiveness of an organization, practice, or process.
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mean time between failures (MTBF)
A metric of how frequently a service or other configuration item fails.
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mean time to restore service (MTRS)
A metric of how quickly a service is restored after a failure.
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measurement and reporting
The practice of supporting good decision-making and continual improvement by decreasing levels of uncertainty.
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