Information Technology Infrastructure Library (ITIL) certification is one of the most recognized certification for IT service professionals globally. ITIL Foundation exam is the first level of exam within the ITIL certification program. ITIL Foundation certification validates one’s ability to handle IT services in a planned manner. This ITIL Foundation course preview gives you an introduction to the all important certification course for professionals to pursue and take their IT career to the next-level.
This ITIL Foundation courseware is prepared by international subject matter experts to help professionals’ gain comprehensive understanding of ITIL concepts and terminologies to enhance your knowledge and confidence towards achieving ITIL Foundation certification.
To know more about ITIL Foundation Certification trainings worldwide, please contact us at -
Email :support@invensislearning.com
Phone - US +1-910-726-3695,
Website : https://www.invensislearning.com
1. ITIL® Foundation Training
ITIL® is a registered trade mark of AXELOS Limited, used under permission of AXELOS Limited. All rights reserved.
The Swirl logo™ is a trade mark of AXELOS Limited, used under permission of AXELOS Limited. All rights reserved.
Course Name : ITIL FOUNDATION
Version : INVL_ITILF_CW_01_001_1.7
Course ID :ITSM - 109
2. 2
About Invensis Learning
Invensis Learning is a pioneer in providing globally-recognized certification training courses for
individuals and enterprises worldwide. Our training methodology coupled with high-quality courseware
has enabled organizations to achieve high-impact learning with increased knowledge, competence, and
performance. We offer courses in various categories such as IT Service Management, Project
Management, IT Security and Governance, Quality Management, Agile Project Management, DevOps,
and Cloud Courses. Invensis Learning certification training programs adhere to global standards such as
PMI, TUV SUD, AXELOS, ISACA, DevOps Institute, and PEOPLECERT.
www.invensislearning.com
3. 3
What We Offer
We offer globally-recognised training and certifications in categories such as Project Management,
ITSM, Agile, Quality Management, Technology Training, Program Management and IT Security &
Governance.
ITSM Project Management Quality Management
Technology
Training
Agile & Scrum IT Security & Governance
ITIL Foundation PMP Project Rescue Six Sigma Yellow Belt Training Cloud Computing PMI-ACP COBIT5 Foundation
ITIL SD CAPM Project Scope Management Six Sigma Green Belt Training Big Data Scrum Training COBIT5 Implementation
ITIL SS PRINCE2 Project Time Management Six Sigma Black Belt Training Hadoop
DevOps
Foundation
COBIT5 Assessor
ITIL ST PgMP
Project Communications and
Stakeholder Management
Lean Six Sigma Green Belt Training .Net Technologies ISO/IEC 27001 Foundation
ITIL SO PMI-RMP Project Cost Management Lean Six Sigma Black Belt Training Data Warehousing
ITIL CSI P3O Project Procurement Management Introduction to Lean Training CISSP
ITIL RCV MSP Project Leadership Lean Fundamentals Program VC++, MCF
ITIL OSA Microsoft Project Change Management Lean Management Training
Advanced WCF,
WPF
ITIL SOA Microsoft Project Server
Implementing a Project Management
Office
Lean Manufacturing Training Advanced JAVA
ITIL PPO IT Project Management Managing Conflict in the Workplace Lean Processes and Tools Advanced J2EE
ITIL MALC
Project Management
Fundamentals - Overview
Negotiating in a Project Environment
Lean Six Sigma in Information
Technology
ISO 20000 Project Initiation Presentation Skills for Project Personnel Lean Six Sigma in Healthcare
Earned Value Management Project Estimating Techniques DFSS Yellow Belt Training
Project Risk Management Managing Multiple Projects DFSS Green Belt Training
Project Sponsorship DFSS Black Belt Training
Team Development MINITAB Training
4. 4
ITIL - Syllabus
Learning Unit Curriculum subjects covered Page No.
Module 1
Introduction
Introduction to ITIL
Service Management as a Practice
The ITIL Service Lifecycle
Review Questions
13-51
Module 2
Service Strategy
Introduction to Service Strategy
Purpose, Objectives, Scope and Value of Service Strategy
Processes and Activities
• Service Portfolio Management
• Financial Management
• Business Relationship Management
• Demand Management
52-87
Module 3
Service Design
Introduction to Service Design
Purpose, Objectives, Scope and Value of Service Design
Processes and Activities
• Design Coordination
• Service Level Management
• Service Catalog Management
• Availability Management
• Information Security Management
• Supplier Management
• Capacity Management
• IT Service Continuity Management
88-168
5. 5
ITIL - Syllabus
Learning Unit Curriculum subjects covered Page No.
Module 4
Service Transition
Introduction to Service Transition
Purpose, Objectives, Scope and Value of Service Transition
Processes and Activities
• Transition Planning and Support
• Change Management
• Service Asset and Configuration Management
• Release and Deployment Management
• Knowledge Management
169-238
Module 5
Service Operation
Introduction to Service Operation
Purpose, Objectives, Scope and Value of Service Operation
Processes and Activities
• Incident Management
• Problem Management
• Event Management
• Request Fulfillment
• Access Management
Service Operation Functions
• Service Desk
• Technical Management
• Application Management
• IT Operations Management
239-318
Module 6
Continual Service
Improvement
Introduction to CSI
Purpose, Objectives, Scope, Value to the Business, The CSI Register
Processes and Activities
• The 7 Step Improvement Process
319-354
7. 7
ITIL Foundation Exam Format
This syllabus has an accompanying examination at which the candidate must achieve a pass score to
gain the ITIL Foundation Certificate in IT Service Management.
Type
Multiple choice, 40 questions. The questions are selected from the full ITIL Foundation
Certificate in IT Service Management examination question bank.
Duration Maximum 60 minutes for all candidates in their respective language
Provisions for additional
time relating to language
Candidates completing an exam in a language that is not their mother tongue have a
maximum of 75 minutes to complete the exam and are allowed the use of a dictionary.
Prerequisite
Accredited ITIL Foundation training is strongly recommended but is not a prerequisite.
Supervised
Yes
Open Book
No
Pass Score
26/40 or 65%
Delivery
This examination is available in Online or Paper based format.
9. 9
Learning Objectives
You will gain knowledge and understanding in the following upon successful completion of the course:
Service management as a practice (comprehension)
The ITIL service lifecycle (comprehension)
Generic concepts and definitions (awareness)
Key principles and models (comprehension)
Selected processes (awareness)
Selected functions (awareness)
Selected roles (awareness)
Technology and architecture (awareness)
Competence and training (awareness)
11. 11
Introduction to ITIL Foundation
Module 1
Introduction
Review of IT Service Management (ITSM) and IT Infrastructure Library (ITIL)
ITIL v3:
• Service Lifecycle:
• Service Strategy
• Service Design
• Service Transition
• Service Operation
• Continual Service Improvement
Course Overview
12. 12
Introduction to ITIL Foundation
Module 1
Introduction
This quick reference guide describes the key principles and practices of IT service management (ITSM)
as a set of resources and capabilities such as processes, people and technology as described by the
ITIL service management framework.
Best practice
Organizations operating in dynamic environments need to improve their performance and maintain
competitive advantage. Adopting best practices in industry-wide use can help improve capability.
There are several sources for best practice:
Public framework and standards : These have been validated across diverse environments;
knowledge is widely distributed among professionals. There is publicly available training and
certification; acquisition of knowledge through the labour market is easier, as is collaboration and
co-ordination across organizations.
Proprietary knowledge of organizations and individuals : This is customized for the local context
and specific business needs; and may only be available under commercial terms; Thus, this may
also be tacit knowledge (inextricable and poorly documented).
14. 14
Introduction to ITIL Foundation
Module 1
Why ITIL is Successful?
ITIL is Vendor-Neutral: ITIL service management practices are applicable in any IT organization
because they are not based on any particular technology platform or industry type.
ITIL is Non-Prescriptive: ITIL offers robust, mature and time-tested practices that have applicability
to all types of service organization. It continues to be useful and relevant in the public and private
sectors, internal and external service providers.
Best Practices: ITIL Best Practices are crafted from the learning experiences and thought
leadership of the world’s best-in-class service providers.
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Introduction to ITIL Foundation
Module 1
Key Benefits of Adopting ITIL
Delivers value for customers through services
Integrates the strategy for services with the business strategy and customer needs
Measures, monitors and optimizes IT services and service provider performance
Manages the IT investment and budget
Manages risk
Manages knowledge
Manages capabilities and resources to deliver services effectively and efficiently
Enables adoption of a standard approach to service management across the enterprise
Changes the organizational culture to support the achievement of sustained success
Improves the interaction and relationship with customers
Coordinates the delivery of goods and services across the value network
Optimizes and reduces costs
16. 16
Introduction to ITIL Foundation
Module 1
Complementary Guidance
Commonly known frameworks and standards that have synergy with ITIL:
COBIT
ISO/IEC 20000
ISO/IEC 15504
ISO/IEC 19770:2006
Management of Risk
Project Management
CMMI
Six Sigma
DevOps
Other ITSM publications
ITIL Live
The Official Introduction to ITIL Service Lifecycle
18. 18
Introduction to ITIL Foundation
Module 1
Service Management Best Practice
Organizations benchmark themselves against peers to close gaps in capability
One method of closing these gaps is to adopt industry-wide best practices
Best practice guidance is derived from varied sources
Sources of Best Practice
Standards
Industry Practices (ITIL®)
Training & Education
Internal experience
Enablers
Employees
Customers
Suppliers
Consultants
Technologies
Drivers
Substitutes
Regulators
Customer
Scenarios
Competition
Compliance
Commitments
Adapt your ITSM
approach to the
Organization
19. 19
Introduction to ITIL Foundation
Module 1
Types of Services
Delivered to
external customers
Delivered between
business units or
departments in the
same organization
Services
Internal External
20. 20
Introduction to ITIL Foundation
Module 1
What is an IT Service?
Customer
Outcome
Customer
(Business Unit Claims
Department)
IT Service
IT Assets
(Managed by
Functions)
Process Claims Business Process supported by
Application Service
IT Service e.g. Case Management Application
Service
Technical
Management
IT Operations
Management
Application
Management
Service Desk
21. 21
Introduction to ITIL Foundation
Module 1
Types of Services
Services can be further classified in terms of how they relate to one another and to customers
Core Services Enhancing Services
Enabling Services Enabling Services
Customer
22. 22
Introduction to ITIL Foundation
Module 1
Types of Service Providers
External Service Provider
Corporation
Business Unit 2Business Unit 1
Shared Service
Unit
Internal Service
Provider B
Internal Service
Provider A
23. 23
Introduction to ITIL Foundation
Module 1
Stakeholders in Service Management
Stakeholders
In addition to the service provider organization, which contains many internal stakeholders
including the functions, groups and teams that deliver the services, there are three main
stakeholder groups
Customers
Users
Suppliers
Those who buy goods or services. The customer of an IT
service provider is the person or group who defines and
agrees the service level targets.
Those who consume and request services on a daily
basis
Third parties which supply goods or services needed to
deliver IT services.
24. 24
Introduction to ITIL Foundation
Module 1
Service Assets, Resources, and Capabilities
The Service relationship between service providers and customers requires the use of assets
There are two types of Assets : Capabilities and Resources
Service providers need to develop distinctive capabilities that distinguish them from their
competitors
Resources can be acquired, whereas capabilities must be grown
Assets
Resources
Management
Organization
Process
Knowledge
People
People
Financial Capital
Infrastructure
Applications
Information
Capabilities
Capabilities
Coordinate,
Control, and
deploy
Resources
25. 25
Introduction to ITIL Foundation
Module 1
Processes
A structured set of activities designed to accomplish a specific objective.
A process takes one or more defined inputs and turns them into outputs.
Processes define actions, dependencies and sequence. Well-defined processes improve productivity
within and across organizations and functions.
Supplier Inputs Processes Outputs Customers
27. 27
Introduction to ITIL Foundation
Module 1
Roles in Service Management
A role is a set of responsibilities, activities and authorities granted to a person or team
Defined in a process or function
One person or team may have multiple roles
• (wear multiple hats)
Roles are not the same thing as job titles
Key roles in ITIL® include:
28. 28
Introduction to ITIL Foundation
Module 1
The RACI Model
RACI Matrix
• Used to define roles and responsibilities in relation to processes and activities
Responsible
• Person responsible for getting the job done
Accountable
• Person with ownership of quality and end result. There can be only one person accountable for
each task
Consulted
• People who have involvement through input of knowledge and information
Informed
• People kept up to date on progress
29. 29
Introduction to ITIL Foundation
Module 1
Assigning Roles and Responsibilities (RACI)
v
Service
Desk
Human
Resources
IT Security
Manager
System
Administrator
User
Log service request RACI - - I RC
Classification of request RACI C - I CI
Verification of access levels RI C AC C C
Provide access rights to
user(s) RI I A R I
RESPONSIBLE ACCOUNTABLE CONSULTED INFORMED
30. 30
Introduction to ITIL Foundation
Module 1
Functions in Service Management
A team or group of people and the tools or other resources they use to carry out one or more processes
or activities
31. 31
Introduction to ITIL Foundation
Module 1
Risk Management
Risk Assessment
Assessing threats and vulnerabilities
Identification of risks
Quantifying the impact and probability
Definition of mitigation strategies
Risk Management
Having processes in place to monitor risks, reliable up-to-
date information about risks, and controls and decision-
making processes in place
A risk is “uncertainty of outcome”
Risk management is the process of identifying, assessing and controlling risks.
32. 32
Introduction to ITIL Foundation
Module 1
Governance
Enterprise Governance
Business Governance
i.e. Performance
Corporate Governance
i.e. Conformance
Value Creation Resource
Utilization
Accountability Assurance
34. 34
Introduction to ITIL Foundation
Module 1
Introduction to Service Lifecycle
Perceived value of IT service is related to demand for that service
Investment in running and improving service is justified as long as the demand for service is high
When demand decreases due to availability of alternative services changing the business
processes, IT assets are under utilized and could be re-used elsewhere
ITIL® Service Life Cycle ensures that Services are continually adjusted to the changing demand
Service Life Cycles
Build
Period of initial investment and
building of Service. Build cost will
be recovered in operations phase
Operate
Period that the perceived value of the
service justifies the investment
Decommission
Threshold under which a Service no
longer adds enough value to justify
the cost of operation. It should be
improved to extend it’s economic
Life Cycle or be decommissioned
ServiceDemand/Value
36. 36
Introduction to ITIL Foundation
Module 1
Introduction to the Service Lifecycle Stages
Align IT Strategy
to Business
Strategy and
define how you
are going to help
the business
achieve their
outcomes
Design services
and their
supporting
systems aligned
with those
outcomes
Transition the
Service into
operation
according to
customer
requirements
Demonstrate
value by
operating the
service to
customer
requirements and
realize the
business case
Strategy Design Transition Operation
Continuously improve services and service management practices
throughout all life cycles to improve customer value
Continual Service Improvement
37. 37
Introduction to ITIL Foundation
Module 1
Introduction to the Service Lifecycle Stages
Strategy Design Transition Operation
Continual Service Improvement
Service Catalogue
Management
Supplier
Management
Info Security
Management
IT Service Continuity
Management
Availability
Management
Capacity
Management
Service Level
Management
Design Coordination
Knowledge
Management
Service Asset &
Configuration
Management
Change Evaluation
Release &
Deployment
Management
Service Validation &
Testing
Change
Management
Transition Planning &
Support
Problem
Management
Access Management
Request Fulfillment
Incident
Management
Event Management
Technical
Management
Application
Management
IT Operations
Management
Service Desk
Financial
Management
Service Portfolio
Management
Demand
Management
Business
Relationship
Management
Strategy
Management for IT
Services
= Process
= Function
ITIL is part of a suite of best-practice publications for IT service management (ITSM).
ITIL offers best-practice guidance to all types of organization that provide services.
ITIL is not a standard that has to be followed; it is guidance that should be read and understood, and used to create value for the service provider and his or her customers.
Organizations need to adopt ITIL best practices and adapt them to work in their specific environments, in ways that meet their needs
ITSM Framework containing a set of practices for managing IT Services. Helps align IT services with needs of the business
Provides a baseline for planning, implementation and measurement
ITIL® Core is a series of five books, which each covering a part of the entire IT Service Lifecycle
Complementary Guidance provided in the form of publications with guidance specific to industry sectors, organization types, operating models, and technology architectures.
ITIL guidance can be found in the following:
ITIL core Best-practice publications applicable to all types of organizations that provide services to a business
ITIL complementary guidance A complementary set of publications with guidance specific to industry sectors, organization types, operating models and technology architectures
ITIL guidance can be adapted to support various business environments and organizational strategies. Complementary ITIL publications provide flexibility to implement the core in a diverse range of environments.
ITIL has been deployed successfully around the world for more than 20 years. Over this time, the framework has evolved from a specialized set of service management topics with a focus on function, to a process-based framework which now provides a broader holistic service lifecycle.
Definition: Service Lifecycle
An approach to IT service management emphasizes the importance of coordination and control across the various functions, processes and systems necessary to manage the full lifecycle of IT services. The service lifecycle approach considers the strategy, design, transition, operation and continual improvement of IT services. This is also known as service management lifecycle.
The service lifecycle is described in a set of five publications within the ITIL core set. Each of these publications covers a stage of the service lifecycle from the initial definition and analysis of business requirements in ITIL Service Strategy (SS) and ITIL Service Design (SD), through migration into the live environment within ITIL Service Transition (ST), to live operation and improvement in ITIL Service Operation (SO) and ITIL Continual Service Improvement (CSI).
To understand what service management is, we need to understand what services are, and how service management can help service providers to deliver and manage these services.
Definition: service
A means of delivering value to customers by facilitating outcomes customers that the want to achieve without the ownership of specific costs and risks. The term ‘service’ is sometimes used as a synonym for core service, IT service or service package.
Definition: IT service
A service provided by an IT service provider. An IT service is made up of a combination of information technology, people and processes. A customer-facing IT service directly supports the business processes of one or more customers and its service level targets should be defined in a service level agreement. Other IT services, called supporting services, are not directly used by the business but are required by the service provider to deliver customer-facing services.
Internal Services:
The set of services which are delivered to departments or business units in the same organization
External Services:
The services that are delivered to external customers
IT Services
Customer outcome
A business outcome could be, for example, 90% of all new numbers for a telecom company activated within 24 business hours. This outcome could provide this company a strategic advantage over the competition. It would also increase external customer value and satisfaction.
Customer (business unit claims department)
Customers use business processes and business assets to create value through facilitating outcomes for their customer. In this example we see a business unit perform a business process called Process Claims by the claims department.
IT Services
IT Services are supported by Service Assets and managed as a cohesive whole from a customer perspective instead of from a technology perspective. This is what we call Service Management
IT Assets (managed by IT functions)
Many specialized functions that manage their IT service assets might be involved in providing a single IT service. In this example all ITIL® Functions are involved in one way or the other in building, operating and supporting the service. Using our restaurant example, there should be a clear understanding within the organization that it only takes one “ingredient” (e.g. a rude employee or less than satisfactory customer service) to damage the reputation of the “coffee chain”.
Core Services: That deliver the basic outcomes desired by one or more Customers
Enabling Services: Those required for a core service to be delivered
Enhancing Services: Services added to a core service to make it more attractive to the customers
1.Type I - Internal Service Provider:
An internal service provider is embedded within the business unit
2.Type II - Shared Services Unit:
An internal service provider that provides shared services to more than one business unit
3.Type III - External Service Provider:
A service provider that provides services to external customers
Stakeholders in Service Management
Customers are those who buy goods or services. The customer of an IT service provider is the person or group who defines and agrees with the service level targets.
There are internal and external customers
• Internal customers: These are customers who work for the same business as the IT service provider does. For example, the marketing department uses IT services.
• External customers: These are customers who work for a different business. External customers purchase services through legally binding contracts
Users
• Those who consume and request services on a daily basis.
Users are distinct from customers, as users are not decision makers for service offerings (they do not control budget) e.g. laptop users, people who need access to network drives or order printer consumables
Suppliers
• Third parties responsible for supplying goods or services needed to deliver IT services. E.g. hardware and software vendors and outsourcing organizations
Any resource or capability is deemed as an Asset
There are two types of Assets: Capabilities and Resources
Service providers need to develop distinctive capabilities that distinguish them from their competitors
Resources can be acquired, whereas capabilities must be grown
Enterprises use resources and capabilities to create value in the form of goods and services.
Resources are direct inputs for production
Capabilities represent an organization’s ability to coordinate, control and deploy resources to produce value
Definition: Process
A process is a structured set of activities designed to accomplish a specific objective. A process takes one or more defined inputs and turns them into defined outputs. It may include any of the roles, responsibilities, tools and management controls required to reliably deliver the outputs. A process may define policies, standards, guidelines, activities and work instructions if they are needed.
Processes define actions, dependencies and sequence. Processes have the following characteristics:
■ Measurability Processes can be measured and performance- driven, in management terms such as cost and quality, and in practitioner terms such as duration and productivity
■ Specific results Processes exist to deliver a specific result that is identifiable and countable
■ Customers Processes deliver their primary results to a customer or stakeholder, either internal or external, to meet their expectations
■ Responsiveness to specific triggers - Processes may be ongoing or iterative, but should be traceable to a specific trigger.
The key outputs from any process are driven by the objectives and include process measurement, reports and improvement. Process outputs have to conform to operational norms derived from business objectives for the process to be effective. Process activities have to be undertaken with the minimum resources for the process to be efficient.
An organization needs to clearly define the roles and responsibilities required to undertake the processes and activities involved in each lifecycle stage. These roles are assigned to individuals within an organization structure of teams, groups or functions.
Definition: Function
A team or group of people and the tools or other resources they use to carry out one or more processes or activities – for example, the service desk.
Functions are self-contained with capabilities and resources necessary for their performance and outcomes. They provide structure and stability to organizations. Coordination between functions through shared processes is a common organizational design.
ITIL Service Operation describes the service desk, technical management, IT operations management and application management functions in detail, with technical and application management providing the technical resources and expertise to manage the whole service lifecycle.
Process Owner - Accountable for ensuring the process is performing as agreed
Sponsors, designs and change manages the process and its metrics
Defines the process strategy, with periodic reviews to keep current processes intact and assists with process design
Defines appropriate policies and standards for the process, with periodic auditing to ensure compliance
Communicates process information or changes as appropriate to ensure awareness
Provides process resources to support activities required throughout the service lifecycle
Ensures that process technicians understand their role and have the required knowledge to deliver the process
Addresses issues with the running of the process
Identifies enhancement and improvement opportunities and makes improvements to the process
Process Manager - Responsible for operational management of a process
Works with the process owner to plan and coordinate all process activities
Ensures that all activities are carried out as required throughout the service lifecycle
Appoints people to the required roles and manages assigned resources
Works with service owners and other process managers to ensure the smooth running of services
Monitors and reports on process performance
Identifies opportunities for and making improvements to the process
Process Practitioner - Responsible for carrying out one or more process activities
Carries out one or more activities of a process
Understands how their role contributes to the overall delivery of service and creation of value for the business
Works with other stakeholders, such as their manager, co-workers, users and customers, to ensure that their contributions are effective
Ensures that inputs, outputs and interfaces for their activities are correct
Creates or updates records to show that activities have been carried out correctly.
Service Owner - Accountable for the delivery of a specific IT service
Ensures that the ongoing service delivery and support meet agreed customer requirements via effective service monitoring and performance
Works with business relationship management to ensure that the service provider can meet customer requirements
Ensures consistent and appropriate communication with customer(s) for service-related enquiries and issues
Represents the service across the organization, including in change advisory board (CAB) meetings
Serves as the point of escalation (notification) for major incidents relating to the service
Participates in internal and external service review meetings
Participates in negotiating service level agreements (SLAs) and operational level agreements (OLAs) relating to the service
Identifies opportunities for and making improvements to the service
Roles are accountable or responsible for an activity. However, as services, processes and their component activities run through an entire organization, each activity must be clearly mapped to well-defined roles. To support this, the RACI model or ‘authority matrix’ can be used to define the roles and responsibilities in relation to processes and activities.
Only one person should be accountable for any process or individual activity, although several people may be responsible for executing parts of the activity.
The RACI chart in the above table shows the structure and power of RACI modeling with an example of process activities down the left-hand side including the actions that need to be taken and decisions that must be made. Across the top, the chart lists the functional roles responsible for carrying out the initiative or playing a part in decision making.
Whether RACI or some other tool or model is used, the important point is to not just leave the assignment of responsibilities to chance or leave it until the last minute to decide. Conflicts can be avoided and decisions can be made quickly if the roles are determined in advance.
How to Assign Roles & Responsibilities?
Identify activities and processes
Identify and define functional roles
Conduct meetings and delegate the RACI-codes
Identify gaps and potential overlaps
Distribute the chart and build in feedback
Ensure that the allocations are followed
Risk Management
Risk management is not an explicit ITIL® Process. It’s something implicit to all processes and must be fully understood to make smart Service Management decisions.
E.g. What is the risk if we invest in this IT Solution, if the customer will not have that much demand for it?
What is the risk of trying to skip testing because the customer wants speed over quality? A risk is uncertainty of outcome.
Uncertainties of outcome can be both positive or negative, it says something about the level of predictability related to outcomes.
E.g. What is the risk of a complete overhaul of security features for a contact center? Will it compromise business critical information?
Launching a 3rd generation email automation tool comes with a lower risk than being the first one in the market. Outcomes can wildly deviate from the projection due to lack of knowledge and available data usable to reduce risk.
Governance is the single overarching area that ties IT and the business together
Governance ensures that policies and strategies are implemented and that the process is correctly followed. Governance is accountable for defining roles and responsibilities, measuring and reporting