This document provides an overview and introduction to ITIL V3 Foundations. It discusses key concepts in IT service management including the ITIL framework, service lifecycle phases, and ITIL processes and functions. The goals of ITSM are to improve quality of service provisioning, justify costs, meet business demands, and provide measurable ROI. ITIL is a widely adopted best practice for ITSM based on standards, industry practices, and experience. It aims to align IT with business needs through the service lifecycle phases of strategy, design, transition, operation, and continual improvement.