NaradaCode ITSM Webinar - What is ITIL 4

Modern ITSM Series – ITIL v4

Welcome to NaradaCode Modern ITSM Webinar Series.

Our Previous Webinar Series discusses ITIL v3. Now we are going to discuss ITIL Version 4.

ITIL 4 is an evolution of ITIL v3 concepts, not a replacement. The good practices from previous versions of ITIL are still valid, however, the ITIL 4 publications have been updated to include additional modern practices and approaches for delivering valuable products and services to customers. The table below includes a summary of three key differences between ITIL v3 and ITIL 4:

In addition to the above, ITIL 4 introduces the following new concepts, which we’ll dig into in further detail below:

  • Service Value System
  • Value Co-Creation
  • Service Relationship Model
  • Value, Outcomes, Costs, and Risks (VOCR)
  • Value Streams
  • ITIL’s Guiding Principles (updated from the ITIL Practitioner publication, released in 2016)
  • General Management Practices
  • Technical Management Practices

ITIL 4 also includes details on modern and emerging technologies like cloud computing, infrastructure as a service (IaaS), neural networks, natural language processing, machine learning, blockchain, etc. and weaves in concepts from Lean, Agile, Scrum, DevOps, and other modern ways of working.

Let’s watch the video for clear explanation on What is ITIL v4.