ITIL Updated ITIL-4-Foundation Exam Questions and Answers by siena

IT asset is any financially valuable component that can contribute to the delivery of an IT product or service. The scope of IT asset management typically includes all software, hardware, networking, cloud services, and client devices

https://wiki.process-symphony.com.au/framework/lifecycle/process/it-asset-management-itil-4/#:~:text=IT%20asset%20is%20any%20financially,cloud%20services%2C%20and%20client%20devices.

The ‘progress iteratively with feedback’ guiding principle encourages organizations to break down complex initiatives into smaller, simpler, and more manageable units of work1. This principle also recommends seeking and acting on feedback from stakeholders, avoiding big-bang approaches, and adapting plans based on new information2. However, this principle does not advise prohibiting changes to plans, analysing the whole situation in detail, or reducing the number of steps that produce tangible results, as these would be contrary to the iterative and adaptive nature of this principle3. References: ITIL Foundation - ITIL 4 Edition, page 7; ITIL® 4 – A Pocket Guide, page 27; ITIL® 4 Practice Guide: Progress Iteratively with Feedback, page 9.

This is one of the most important questions for continual improvement. This question helps to define measurable targets for the IT service provider that will help to reach the vision of the company in the long-term. At this stage, we look at the identified key performance indicators from the previous step and determine what values we want to target for each of these indicators. This decision must be made with the business’s vision in mind, but also with a sense of what is practically possible.

https://blog.masterofproject.com/continual-improvement-model/

The purpose of the monitoring and event management practice is to systematically observe services and service components and record and report selected changes of state identified as events1. This practice helps to identify and prioritize any issues or opportunities for improvement in the delivery or support of services2. The other statements describe the purposes of different practices: incident management (A), service request management (B), and change enablement (D)3. References: ITIL Foundation - ITIL 4 Edition, page 14; ITIL® 4 – A Pocket Guide, page 31; ITIL® 4 Practice Guide: Monitoring and Event Management, page 7.