The document provides an overview of ITIL (IT Infrastructure Library) best practices. It discusses the origin and history of ITIL, outlines the benefits and risks, and describes the key concepts of ITIL V2 and V3. Specifically, it summarizes the five phases of the ITIL service lifecycle in V3 - service strategy, service design, service transition, service operation, and continual service improvement. It also provides an overview of the incident, problem and change management processes.