In ITIL 4, the concept that describes the service value chain is, unsurprisingly, called the "Service Value Chain." The Service Value Chain is a central component of the ITIL 4 framework and represents the activities and processes involved in delivering valuable products and services to customers.
The Service Value Chain consists of six core activities:
- Plan: This activity involves defining the organization's strategic objectives and creating a plan to achieve them.
- Improve: This activity focuses on continuously improving the products, services, and practices to meet customer needs and expectations.
- Engage: This activity encompasses all interactions with customers and stakeholders to understand their requirements and ensure their needs are addressed effectively.
- Design and Transition: This activity covers the development and improvement of products and services, including their design, testing, and transition into operational environments.
- Obtain/Build: This activity involves obtaining and managing resources necessary to deliver products and services. It includes activities like sourcing, development, and integration.
- Deliver and Support: This activity is responsible for the actual delivery of products and services to customers, as well as providing support during their use.
The Service Value Chain helps organizations visualize how different activities contribute to the creation and delivery of value and enables them to streamline their processes and resources effectively. It is a core concept in ITIL 4, which is the latest iteration of the IT Infrastructure Library (ITIL) framework for IT Service Management.