ITIL® Version 5
Module 01 / Glossary

Main Terms & Definitions

Master the foundational vocabulary of ITIL® 5. This glossary lists the 15 key service management terms with their formal syllabus explanations and practical examples modeled around modern digital environments.

Goods Concepts

Tangible resources transferred from a service provider to a service consumer, which include ownership and associated rights and responsibilities.

Example
Transfer of equipment or consumables.
Product Concepts

A configuration of an organization’s resources designed to offer value for a consumer.

Example
A physical car used for transportation.
Digital product Concepts

A combination of an organization’s resources based on digital technology that is designed to offer value to consumers.

Example
Software and virtual infrastructure.
Service Concepts

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.

Example
A car rental or car-sharing service.
Digital service Concepts

A service that fully or largely relies on digital products.

Example
A driverless car service.
Digital product & service mgmt Concepts

A set of specialized organizational capabilities for enabling value for customers in the form of digital products and services.

Example
Managing the lifecycle of digital resources, software, and instant digital delivery systems.
Service offering Offerings

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

Example
A service package that includes access to a vehicle, roadside support, and delivery of keys.
Service actions Offerings

Actions performed by the service provider, or jointly by the provider and consumer, to fulfill a need.

Example
Delivery of goods, user trainings, consultations, and service request fulfilment.
Access to resources Offerings

When a consumer gains access to use a provider’s owned resources.

Example
Using hotel rooms, vehicles, applications, platforms, networks, or cloud services.
Output Value & Outcomes

A tangible or intangible deliverable of an activity.

Example
A customer physically arriving at their destination.
Outcome Value & Outcomes

A result for a stakeholder that is enabled by one or more outputs.

Example
Flexibility and comfort of transportation for a customer, or fewer cars and cleaner air for a city.
Cost Value & Outcomes

The amount of money spent on a specific activity, resource, product, or service.

Example
The financial expenses related to owning and maintaining a private vehicle.
Risk Value & Outcomes

A possible event that could cause harm or loss or make it more difficult to achieve objectives.

Example
A software error or cyber-security incident that could affect a customer's journey in a driverless car.
Value Value & Outcomes

The perceived benefits, usefulness, and importance of something.

Example
The mobility and convenience a customer gains without the extra costs and risks of owning a car.
Value co-creation Value & Outcomes

The collaborative process by which providers, consumers, and other stakeholders jointly create value by combining resources, capabilities, and actions to achieve desired outcomes.

Example
A service provider taking on road safety responsibilities while the customer uses the service to safely achieve their mobility needs.