FMITS: Introduction
About the Lecture
The lecture FMITS: Introduction by IT Training Zone is from the course ITIL® Service Strategy. It contains the following chapters:
- Financial Management
- Process Scope
- Process Value
- Policies, Principles, Basic Concepts
- Funding
- FMITS and Value
Included Quiz Questions
What does FMITS need to balance to fulfil its purpose?
- Service cost and quality
- Service supply and demand
- Service performance and attributes
- Service utility and warranty
Which of these options is NOT one of the 3 processes of Financial Management?
- Costing
- Accounting
- Budgeting
- Charging
Which Financial Management process is responsible for the prediction and control of income and expenditure?
- Budgeting
- Accounting
- Costing
- Charging
IT accounting will define the cost of a piece of hardware, or a call to the Service Desk. What’s the name for these costs?
- Unit costs
- Transaction costs
- Total cost of ownership
- Budgets
Which types of service provider should develop Financial Management capabilities?
- Type 1, 2 and 3
- Type 3 only
- Type 1 and 2
- Type 1 only
If IT is run as a business unit or project to which costs are assigned, what is the term for this?
- Cost centre
- Profit centre
- Type 1 provider
- Type 3 provider
Profit centres can be created with 3 different objectives. Which of these options is NOT one of the 3 objectives?
- Receive investment
- Make a profit
- Make a loss
- Recover costs
Which type of funding model is normally used to fund projects, not IT service provision overall? It runs for a fixed number of years or cycles, and is extended by one cycle at the end of the first cycle.
- Rolling plan
- Trigger based
- Zero based
- Cost neutral
Author of lecture FMITS: Introduction
IT Training Zone
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