| Value
For Money |
A
concept associated with the
economy, effectiveness and
efficiency of a service, product
or process, i.e. a comparison of
the input costs against the
value of the outputs and a
qualitative and quantitative
judgement over the manner in
which the resources involved
have been utilised and
managed. See also Effectiveness,
Economy,
Efficiency. |
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|
| Values |
The
understandings and expectations
that describe how the
organisation's people behave and
upon which all business
relationships are based (e.g.
trust, support and truth). |
|
|
| Variable
Cost |
A
cost incurred each time a
service is used or a product
produced. |
|
|
| Variance |
The
difference between planned,
budgeted or standard cost and
actual cost (or revenue).
Variance analysis is an analysis
of the factors which have caused
the difference between the
pre-determined standards and the
actual results. |
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|
| Variant |
A
CI that, although different in
some small way, has the same
basic functionality as other CIs
and therefore may be required to
be analysed along with its
generic group. |
|
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| Verification |
See
Configuration
Verification. |
|
|
| Version |
An
identified instance of a CI
within a product breakdown
structure or configuration
structure for the purpose of
tracking and auditing Change
history. Also used for
software CIs to define a
specific identification released
in development for drafting,
review or modification, test or
production. |
|
|
| Version
Identifier |
A
version number, version date or
version date and time stamp. |
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|
| Virtual
Memory System |
Virtual
Memory Systems were developed to
increase the size of memory by
adding an auxiliary storage
layer which resides on disc. |
|
|
| Vision |
A
statement that describes how the
organisation wishes to be in the
future. |
|
|
| Vital
Business Function |
The
business critical functions of
the business, supported by an IT
service. |
|
|
| Voice
Over Internet Protocol |
Sometimes
called 'IP telephony' or 'Voice
over the Internet (VOI)'.
VOIP uses a combination of
hardware and software to enable
people to use the Internet as
the transmission medium for
telephone calls. |
|
|
| Voice
Over the Internet |
See
Voice
over Internet Protocol. |
|
|
| Vulnerability |
A
weakness of a service and its
constituent CIs (assets) which
could be exploited by threats. |
