Course: ITIL® 4 Foundation eLearning Course

Section: Fundamental Topics

Lesson 06: Costs and Risks

Do you know the exact meaning of risk? Let’s have a quick review.

Based on AXELOS ITIL® material. Reproduced under licence from AXELOS. All rights reserved.

Do you remember what risk means in this context and how it’s different from the day to day meaning of the word?

Sometimes it seems that we take the undesirable risks more seriously than desirable ones; are you familiar with the “loss aversion” fallacy? It may explain a lot. Can you think of some desirable risks in your work and life?

Again, can you explain the difference between outcomes and outputs? Can you explain why this is important to pay more attention to outcomes?