Domain 4 of 7 · Chapter 1 of 6

Components of the ITIL Value System

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Included in this chapter:

  • One system that turns opportunity and demand into value
  • The five components and their distinct roles
  • Why it is a system, not five silos
  • Telling it apart, and the exam patterns

The five components of the ITIL Value System

ComponentIts role in the organizationRecognition cue in a stem
Guiding principlesUniversal recommendations that steer decisions and behaviour in all circumstances'a recommendation that applies in all circumstances'
GovernanceDirects and controls the organization through a governing body'directing and controlling'; 'evaluate, direct, monitor'
Value chainThe operating model of interconnected activities that create and deliver value'a set of interconnected activities'; 'operating model'
Management practicesSets of organizational resources used to perform the work'sets of resources for performing work'
Continual improvementKeeps products, services, and practices relevant and effective as needs change'a recurring activity to keep things relevant'

Decision tree

A universal recommendationthat guides in allcircumstances?Guiding principlesuniversal recommendationsDirects and controls theorganization: evaluate,direct, monitor?Governancedirects and controlsA set of interconnectedactivities that createand deliver value?Value chainthe operating model of activitiesA set of organizationalresources forperforming work?Management practicessets of resources for the workA recurring activity thatkeeps products, services,and practices relevant?Continual improvementkeeps things relevantYesNoYesNoYesNoYesNoYes
Cheat sheet

Cheat sheet

  • The ITIL Value System has five components
  • Each ITIL VS component plays a distinct role
  • The ITIL VS turns opportunity and demand into value
  • The ITIL VS describes how components work together to create value
  • The ITIL VS is designed to be flexible and non-siloed
  • Version 5 uses 'ITIL Value System', not the ITIL 4 'Service Value System'
  • The value chain is one component, not the whole value system
  • The ITIL VS applies to the whole organization

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References

  1. https://www.itil.com/professionals/certifications/ITIL-Foundation-Version-5
  2. https://www.itil.com/Itil-News-and-Announcements/itil-version-5-foundation-whats-new-guide
  3. https://www.itil.com/Itil-News-and-Announcements/itil-version-5-explained
  4. https://www.peoplecert.org/browse-certifications/it-governance-and-service-management/ITIL-1/itil-5-foundation-version-50-4154