Demand for IT services is outpacing the growth of IT budgets. The business constantly requests new services, requires higher service levels, and expects more consistent service delivery. With supply constrained, the only solution is to manage this demand more effectively. The new version of ITIL prescribes essential changes to help IT and the business tackle this difficult task.

With ITIL Version 3, the Service Catalog has matured to become one of, if not the most important undertakings within IT. ITIL V3 removes the Service Catalog from Service Level Management and creates a new Service Catalog Management process, promotes service requests from incidents to a new Request Fulfillment process, and creates an overarching new process for Service Portfolio Management. These new processes – in the context of the new service lifecycle approach in ITIL V3 – will make it easier for IT to provide the right services to meet the demands of the business.