ITIL 4 Foundation Practice Exam

How can risk be defined in ITIL?

1. A guaranteed negative outcome from an event

2. A possible event that could cause harm or loss

3. A strategy for managing service costs

4. A positive aspect that improves service delivery

The correct answer is: A possible event that could cause harm or loss

In the context of ITIL, risk is defined as a possible event that could cause harm or loss. This definition highlights the uncertainty and potential negative impact of such events on the organization’s objectives or service delivery. Evaluating risk involves identifying potential threats and assessing their likelihood and possible consequences, allowing organizations to proactively implement measures to mitigate or manage those risks. This understanding aligns with ITIL's focus on effective risk management within service management processes. By recognizing risk as a possibility rather than a certainty, organizations can better prepare and respond to adverse situations, ensuring that they have strategies in place to minimize disruption to services. The other options presented do not encapsulate the essence of risk in ITIL as effectively. For instance, defining risk as a guaranteed negative outcome misses the critical element of uncertainty inherent to risk. Describing it as a strategy for managing service costs does not relate to the concept of risk and instead focuses on budget management. Lastly, portraying risk as a positive aspect that improves service delivery is misleading; while positive outcomes may result from managing risk effectively, the fundamental definition pertains to potential harm or loss.