4.5.3 Glossary (I-K)

• Improve (SVC Activity): Ensure continual improvement of products, services, practices.
  • Practical Context: The ongoing activity of identifying and implementing improvements.
• Incident: Unplanned interruption to a service or reduction in quality.
  • Practical Context: Something is broken or not working as expected.
• Incident Management: Practice: Restore normal service operation ASAP. Log all incidents.
  • Practical Context: The process your organization uses to handle and resolve service disruptions.
• Information Security Management: Practice: Protect organization's info (Confidentiality, Integrity, Availability - CIA triad).
  • Practical Context: Ensuring the security of information and systems you work with.
• IT Asset: Any financially valuable component that can contribute to delivery of an IT product/service.
  • Practical Context: Hardware, software licenses, etc., that have financial value.
• IT Asset Management (ITAM): Practice: Plan/manage full lifecycle of IT assets (max value, control cost, manage risk).
  • Practical Context: Tracking and managing the financial and lifecycle aspects of IT assets.
• Known Error (KE): Problem that has been analyzed and has not been resolved. Remains in KE status if no cost-effective fix.
  • Practical Context: A diagnosed issue with a known cause and potentially a workaround, but no permanent fix yet.