In ITIL 4, SVS stands for Service Value System. It is a core component of the ITIL 4 framework and represents the overall model for creating, delivering, and continually improving IT services to meet customer needs and achieve business objectives.
The Service Value System consists of several interconnected components, including:
- The ITIL Guiding Principles: A set of seven principles that guide decision-making and actions for organizations adopting ITIL 4.
- Governance: The framework for ensuring that an organization’s IT services align with its overall business goals and objectives.
- Service Management: The set of practices that organizations use to design, deliver, and continually improve IT services.
- Continual Improvement: The process of improving the effectiveness and efficiency of IT services over time.
- The ITIL Practices: A set of 34 practices that provide guidance for specific areas of service management, such as incident management, problem management, and change management.
- Service Value Chain: A model that describes the sequence of activities that an organization uses to create and deliver value to its customers.
Together, these components form the Service Value System, which provides a holistic approach to managing IT services and delivering value to customers.
