The IT Infrastructure Library (ITIL®) consists of the best practices in the field of service management.  Since, the ITIL® has been a worldwide practice, the concepts and terminologies were clearly defined so as for all IT users to understand and makes it easier for non-IT users to appreciate.  The following are some of the concepts and terminologies that ITIL® provides:

1.  Service Level Management – is the process of ensuring
     that the Service Level Agreements (SLAs) between the
     company and customer are documented.   It is at this
     level that the actual supplied service is monitored and
     delivered in conformance with SLAs. 2.  Financial Management for IT Services  is the process
     where the company identifies the clear objective of the
     ITIL®, which are the cost effective ownership and
     handling of IT resources so as to provide IT services. 
     The Financial Management process tends to decrease
     or reduce the overall long-term costs and actual costs
     of services provided. 3.  Incident Management – is the process of protecting
     the service continuity.  This process seeks to restore
     quickly normal service operation with minimal impact
     on business operations. 4.  Problem Management is the process of recording
     to the Configuration Management Database incidents
     that might have gave rise to a known or unknown
     problem. 5.  Configuration Management- is the process of maintaining
     and controlling all the versions of IT Configuration.  It
     provides accurate information that will support the
     service management processes.  The functions of staff,
     documentation, organization charts, the Definitive
      Software Library (DSL) and Definitive Hardware
      Library (DHL) for any released products are stored
      in the CMDB.

ITIL® concepts and terminologies allowed managers without IT knowledge to have a holistic view of the IT service management.  The worldwide acceptance likewise changed the view of service management from operational to performance based.

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