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ITIL 4 Foundations for WGU Exam 2025 Questions and Answers Service Management - ....ANSWER ...-Is a set of specialized organizational capabilities for providing value to customers in the form of services Product - ....ANSWER ...-A configuration of an organization's resources designed to offer value for a consumer Service Offering - ....ANSWER ...-A formal description of one or more services, that are aggregated, designed to address the needs of a target consumer group Service Relationships - ....ANSWER ...-cooperation between a service provider and service consumer Value - ....ANSWER ...-The perceived benefits, usefulness, and importance of something, is co-created Output - ....ANSWER ...-A tangible or intangible deliverable of an activity, generally tangible or measurable Outcome - ....ANSWER ...-A result for a stakeholder enabled by one or more outputs, generally intangible, results based Costs - ....ANSWER ...-the amount of money spend on a specific activity or resource …FOR STUDENTS ONLY…©️2025 ALL RIGHTS RESERVED… 1