To ensure their organizations remain a vital and respected contributor to business value, IT managers must aggressively monitor and report on service levels. Service Level Agreements (SLAs) are now the key factor in translating IT effectiveness into measurable business value. Service Level Management (SLM) is the emerging discipline that revolves around ensuring these agreements are appropriately governed and met. This paper will address these questions and provide actionable advice to help IT leaders make Service Level Management a powerful reality.