What is the role of "Governance" in the ITIL Service Value System?

In the context of the ITIL Service Value System, governance plays a crucial role in providing strategic direction. This encompasses establishing policies, principles, and frameworks that guide an organization in achieving its objectives, ensuring that all activities align with its overall vision and mission. By providing strategic direction, governance ensures that all parts of the organization are working towards common goals, making it a foundational element of effective service management.

Through governance, organizations can ensure that their resources, processes, and change initiatives support their strategic objectives. It also involves monitoring and evaluating performance, ensuring compliance with regulatory and internal standards, and making decisions that influence the overall service management strategy. This alignment helps to maximize value for stakeholders and ensures that the service value chain operates effectively towards achieving desired outcomes.