SLI/SLO/SLA

Service Level Indicator (SLI) - quantitative measure of some aspect of the level of service that is provided.

Common SLIs:

Service Level Object (SLO) - target value or range for an SLI

Example:
SLI - Latency
SLO - Latency < 100ms
SLI - Availability
SLO - 99.9% uptime

Service Level Agreement (SLA) - contract between a vendor and a user that guarantees certain SLO.
The consequences for not meeting any SLO can ba financial based but can also be variety of other things as well