IT Financial Management comprises the discipline of ensuring the IT infrastructure is obtained at the most effective price (which does not necessarily mean cheapest) and calculating the cost of providing IT services so an organization can understand the costs of its IT services. These costs may then be recovered from the customer of the service. This is the second component of the service delivery process.


The Information Technology Infrastructure Library (ITIL) framework has become the standard in IT Service Management across the globe. ITIL helps all organizations, regardless of their industry or business sector, provide their IT services using the most efficient and economical methods. The framework focuses on IT Service Management best practices and efficient operations, and is used in government, commercial, and non-profit organizations, alike.
This is the information managed in the service and any supporting information and knowledge including protect, manage and archive it. Technology is main driver for benefit in service management. This may be artificial intelligence, machine learning, the use of mobile platforms, cloud solutions, collaboration tools, automated testing and operations as well as continuous integration / continuous development / continuous deployment solutions[15].
While you can certainly study up or apply ITIL principles and practices in your own company, you can also pursue official ITIL certifications, which indicate familiarity, knowledge, and even mastery of ITIL principles put into practice. Importantly, ITIL certifications are available only to individuals, not to an entire organization. For instance, if a company claims they are ITIL certified, they may in fact comply with a related, but different, standard of the ISO/IEC 20000, or they may simply be promoting any number of employees within the company do hold ITIL certifications.
If you work in IT, you’ve likely heard of or worked with ITIL. Perhaps you’ve even considered pursuing ITIL certifications. But is the investment worth the return? We’re taking a look at the cost of ITIL certifications at various levels and the benefits you can expect, so you can decide whether it’s an appropriate investment for you and your business.
The Information Technology Infrastructure Library, better known as ITIL, is the pre-eminent framework for managing IT service delivery around the world. ITIL defines a service lifecycle model that prescribes specific processes and activities during the design, development, delivery, and support of IT services. For the purposes of this discussion, IT services are any IT activities that deliver business value to a company's end users, customers and other internal or external stakeholders. Examples of IT services include centralized corporate email and corporate websites based on back-end IT processes, such as server and network administration. The current version of ITIL is known as ITIL V3.
Organizations need both approaches. If ITIL best practices aren’t integrated into the SDLC, and the reverse as well, then development can become siloed. Software developers are most concerned with speed and innovation and operational functions are focused on governance and stability. Without ITIL and SDLC integration, businesses are more likely to experience issues like bottlenecks, the proper resources being unavailable when development requires them, and inaccurate information being collected. Additionally, inconsistent environments, manual deployment processes, subpar quality and testing, frequent outages, poor communication between IT silos, and failing SLAs can result. Any one of those issues will need significant time and expense of an organization’s IT resources to resolve.
The ITIL Practitioner is considered the next step in the ITIL progression after achieving the ITIL Foundation (which is a prerequisite). It emphasizes the ability to adopt, adapt and apply ITIL concepts in an organization. Although the Practitioner certification is not required for upper-level ITIL credentials, achieving Practitioner certification provides three credits toward ITIL Expert certification. You can prepare for the Practitioner exam through self-study, in-person classroom learning or online and distance learning options. The Practitioner exam is 40 multiple-choice questions and requires a minimum score of 70 percent, or 28 correct answers,  to pass.
As ITIL 4 incorporates much of the content from ITIL V3, any existing investments in ITIL are protected. However, ITIL 4 builds on the current content and highlights the importance of working holistically and collaboratively to successfully deliver products and services. It provides an invaluable digital operating model that offers practical support for emerging technologies, such as AI and robotics.
While you can certainly study up or apply ITIL principles and practices in your own company, you can also pursue official ITIL certifications, which indicate familiarity, knowledge, and even mastery of ITIL principles put into practice. Importantly, ITIL certifications are available only to individuals, not to an entire organization. For instance, if a company claims they are ITIL certified, they may in fact comply with a related, but different, standard of the ISO/IEC 20000, or they may simply be promoting any number of employees within the company do hold ITIL certifications.
TOGAF® Foundation, TOGAF® Certified, ArchiMate® Certified, and IT4IT™ Foundation from Good e-Learning are Accredited Training Courses and comply with the accreditation requirements for The Open Group Certification for People: TOGAF®, ArchiMate®, and IT4IT™ Certification Programs. IT4IT™, ArchiMate® and TOGAF® are registered trademarks of The Open Group. ITIL®, PRINCE® and The Swirl logo™ are registered trademarks of AXELOS Limited. COBIT® is a registered trademark of ISACA and the IT Governance Institute. Our website uses cookies to improve your browsing experience. ©Good e-Learning.
To enable candidates to meet their own career goals, AXELOS lets you achieve qualification in one category or by choosing modules from both categories. AXELOS recommends that you have at least two years of IT service management experience. Note that you must complete your Intermediate exam preparation by completing a training course offered by an accredited training organization (ATO), i.e., you cannot self-study then sit for the Intermediate exam.

“A good start is to do some Google detective work to find high-level examples of how the framework is applied to processes. Once you do that, think about the 'things' offered to you at work and how you need them to get your job done. All of that is ITIL in play and if you understand this and focus on examples then learning the framework will be a breeze,” says Cox.


As IT becomes more important, SMBs are realizing the biggest benefits of maintaining ITIL-trained personnel on staff. Though no company wants to see IT projects fail, larger companies can usually absorb the loss of productivity, time and money that accompanies a failed IT service project. SMBs may not have the financial luxury of allowing an important IT project to fail owing to poor management and lack of processes. Thus, the value of an ITIL certification may be greater for enlightened companies that cannot afford IT project failures.
If you are looking for an ITIL tutorial for beginners that you can complete at your own pace and won’t cost you an arm and a leg, you have come to the right place. Cybrary offers free ITIL training that can be completed online. Whether you are in school, working full-time, or simply looking to pick up some new skills, this option is both convenient and affordable.

That’s one of the reasons why Axelos has a practitioner level where it requires a combination of both practical and theoretical knowledge.  According to Axelos, the ITIL practitioner level  “enables practitioners to not only speak the language of ITIL but be able to translate it and use it in practice”. So, an ITIL certification without the knowledge of how to use it in practice is just a sheet of paper.


Prior to taking any of the ITIL exams, you should be able to pass any of the sample ITIL exams that are available online. A list of online ITIL sample exams can be found here; updated as of 2014. Professional ITIL exam preparation kits can also be found online, for a fee. ITIL Prime, for example, offers access to more than 800 ITIL Foundation questions for $59.
Service-level management provides for continual identification, monitoring and review of the levels of IT services specified in the service-level agreements (SLAs). Service-level management ensures that arrangements are in place with internal IT support-providers and external suppliers in the form of operational level agreements (OLAs) and underpinning contracts (UCs), respectively. The process involves assessing the impact of change on service quality and SLAs. The service-level management process is in close relation with the operational processes to control their activities. The central role of service-level management makes it the natural place for metrics to be established and monitored against a benchmark.

The ‘Information Technology Infrastructure Library’ is a set of best practices for creating and improving an ITSM process. It is designed to help businesses manage risks, strengthen customer relations, establish cost-effective practices and build stable IT environments for growth, scale and change. In short, an ITIL Practitioner is an expert in continually shaping IT service development processes.
ITIL describes processes, procedures, tasks, and checklists which are not organization-specific nor technology-specific, but can be applied by an organization for establishing integration with the organization's strategy, delivering value, and maintaining a minimum level of competency. It allows the organization to establish a baseline from which it can plan, implement, and measure. It is used to demonstrate compliance and to measure improvement. There is no formal independent third party compliance assessment available for ITIL compliance in an organisation. Certification in ITIL is only available to individuals.
Organizations and management systems cannot claim certification as "ITIL-compliant". An organization that has implemented ITIL guidance in IT Service Management (ITSM), may be able to achieve compliance with and seek certification under ISO/IEC 20000. However, while relatively closely aligned, ISO/IEC 20000 and ITIL Version 2 do not define identical processes.[59] This gap has become much wider with ITIL versions 2007 and 2011. ITIL now defines twice as many ITSM processes as ISO/IEC 20000 (26 compared to 13),[60] but there are also more subtle differences, for example:[61]
Continuous Service Improvement: This phase defines new requirements for the preceding phases of ITIL based on operational feedback and service levels. It helps to ensure that policies and procedures are followed, that service level agreements are met and that operational lessons learned are incorporated into existing and future service refinements.

In July 2013, ownership of ITIL was transferred to AXELOS, which maintains the ITIL framework and accredits training and examination institutes. Hundreds of ITIL Accredited Training Organizations (ATOs) are available to deliver training, and ITIL certification exams are administered at the end of a training course or by an Examination Institute (EI), many of which work directly with the ATOs.
Looking to build a career in the IT Service Management sector? ITIL Foundation certification is a highly recognized entry-level certification in IT service management. This course by Greycampus will help students pass the ITIL Foundation certification exam. This course is available in three different modes of learning: live class, online class and online self-learning.
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