According to ITIL 4, what should be coordinated and integrated between all parties for the SVS to be effective?

In ITIL 4, for the Service Value System (SVS) to be effective, it is essential that responsibilities are coordinated and integrated between all parties involved. This integration of responsibilities ensures that everyone understands their roles and how they fit into the overall service management process. Clear definitions of responsibilities foster collaboration, streamline workflows, and enhance accountability, contributing to better service delivery and value creation.

Coordination of responsibilities allows various teams and individuals to work in harmony, aligning their efforts towards common goals and objectives. It helps in identifying who is accountable for specific tasks and decisions, which is crucial for effective communication and minimizing overlaps or gaps in service management activities. This cooperative approach ensures that services are managed effectively and efficiently, leading to improved customer satisfaction and better business outcomes.

The other options, although related to effective service management, do not capture the essential aspect of coordination and integration as directly as responsibilities do. Mission, practices, and budgets can be important in their own rights but primarily serve as frameworks, guidelines, or financial underpinnings that require the solid foundation of clearly understood and coordinated responsibilities to be truly effective.