Which component of the ITIL 4 Service Value System focuses on governance?

The correct answer is governance. In the ITIL 4 framework, the governance component plays a crucial role in ensuring that the organization’s objectives align with its activities. It encompasses the policies, direction, and control that guide the organization towards achieving its goals, which includes oversight of how resources are managed and how services are delivered.

Governance is essential for establishing accountability and ensuring that all practices and processes work together effectively to create value. It helps organizations to manage risk, ensure compliance, and meet stakeholder expectations by setting the framework and the boundaries within which the service value system operates.

The other components mentioned serve different purposes within the ITIL framework. The service value chain describes the interconnected activities that work together to create value, while practices refer to the various methods and processes used to deliver services. Opportunities relate to potential initiatives for improvement or growth. Each of these components interacts with governance, but it is governance that provides the necessary structure and oversight for the effective implementation of all other components within the service value system.