Episode 15: Cost and Value — What’s the Difference?

Episode 15: Cost and Value — What’s the Difference?

In service management, cost and value are closely linked but not the same. This episode focuses on distinguishing these two concepts, which the exam often tests in subtle ways. Cost represents the resources required to deliver a service — the money, time, and effort invested. Value, on the other hand, is the benefit or outcome that the customer perceives from that service. For example, the cost of running cloud servers may be high, but the value to the customer could be even greater if it allows their business to scale quickly and reliably.

We’ll discuss why confusing cost with value can lead to poor decisions, such as cutting essential support functions because they appear expensive while ignoring the value they create in preventing downtime. By practicing with these distinctions, you’ll sharpen your ability to analyze service tradeoffs, which is useful both for the exam and for real organizational decision-making. This episode was produced by BareMetalCyber.com.

Episoder(59)

Episode 27: Keep It Simple and Practical — Avoiding Complexity

Episode 27: Keep It Simple and Practical — Avoiding Complexity

Complexity is one of the biggest threats to efficiency, and ITIL’s principle “Keep It Simple and Practical” addresses this directly. In this episode, we’ll explore how simplicity reduces errors, accel...

1 Sep 202528min

Episode 26: Think and Work Holistically — The Big Picture

Episode 26: Think and Work Holistically — The Big Picture

ITIL emphasizes that no element of a service operates in isolation, and this is captured in the guiding principle “Think and Work Holistically.” In this episode, we’ll explain how services, practices,...

1 Sep 202525min

Episode 25: Collaborate and Promote Visibility — Team and Transparency

Episode 25: Collaborate and Promote Visibility — Team and Transparency

No service can succeed in isolation, which is why collaboration is essential in ITIL’s framework. In this episode, we’ll examine the guiding principle “Collaborate and Promote Visibility,” which empha...

1 Sep 202528min

Episode 24: Progress Iteratively with Feedback — Why Small Steps Matter

Episode 24: Progress Iteratively with Feedback — Why Small Steps Matter

Big-bang changes often fail because they are too risky and too complex. The principle “Progress Iteratively with Feedback” reminds us that improvement should come in manageable steps, each guided by l...

1 Sep 202528min

Episode 23: Start Where You Are — Assess Before You Build

Episode 23: Start Where You Are — Assess Before You Build

Change and improvement are constant in IT, but too often organizations throw away what already works. This guiding principle, “Start Where You Are,” encourages you to first assess the current state be...

1 Sep 202526min

Episode 22: Focus on Value — Customer First

Episode 22: Focus on Value — Customer First

The first guiding principle is “Focus on Value,” and it captures the essence of why IT services exist at all. In this episode, we’ll explore how every decision, process, and improvement effort should ...

1 Sep 202530min

Episode 21: What Are Guiding Principles?

Episode 21: What Are Guiding Principles?

Guiding principles are one of the most distinctive features of ITIL 4, offering simple yet powerful advice that can be applied universally across organizations and situations. In this episode, we’ll i...

1 Sep 202530min

Episode 20: Service Relationships: Provision, Consumption, Management

Episode 20: Service Relationships: Provision, Consumption, Management

Services don’t exist in a vacuum — they exist in relationships between providers and consumers. In this episode, we’ll examine the ITIL concept of service relationships, which involve three main eleme...

1 Sep 202529min

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