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Glossary
Total Cost of Ownership (TCO)

A financial calculation used to analyze the direct and indirect costs of owning and using hardware and software. #BusinessAlignment #FinancialManagement #BusinessValue


Glossary
Vendor

A third-party, external company that supplies goods or services to the support center or customer. #BusinessValue #FinancialManagement #BusinessAlignment


Glossary
Vendor Management

Reviewing vendor performance and responsiveness through statistical problem reports. #BusinessAlignment #ITSM #BusinessValue #FinancialManagement


Glossary
Knowledge Management (KM)

The process of managing some or all of an organization’s knowledge as a resource; the capture and reuse of business and technical information. #BusinessIntelligence #KnowledgeCenteredSupport #ITIL #BusinessValue #KnowledgeManagement #ITSM


Glossary
Definitive Software Library (DSL)

One or more locations in which the definitive and approved versions of all software CIs are securely stored. The DSL may also contain associated CIs, such as licenses and documentation. The DSL is a single logical storage area, even if there are multiple locations. All software in the DSL is...


Glossary
Service Improvement Plan (SIP)

A formal plan for implementing improvements to a process or IT service . An SIP is managed as part of a continuous improvement process. #Processes #ITSM #CustomerExperience #BusinessAlignment #ContinualServiceImprovement #BusinessValue


Glossary
Process

A set of related activities designed to accomplish a specific objective that creates value for the customer or stakeholder by transforming inputs into outputs. #ProcessImprovement #ITIL #Processes #ProcessManagement #ITSM #BusinessValue


Glossary
Return on Investment (ROI)

A financial calculation used to determine the time it will take to recover the costs of an investment (or payback period). #BusinessValue #BusinessAlignment #ROI #FinancialManagement


Glossary
Quick Win

An improvement activity that is expected to provide a return on investment in a short period of time with relatively little cost and effort. #BusinessValue #BusinessAlignment #FinancialManagement


Glossary
Profit Center

An accounting term that refers to a department or function in the organization that generates revenue for the parent company or organization. See also Cost Center . #BusinessAlignment #BusinessValue #FinancialManagement