Service management

When you develop a product or service, you need to manage it on ongoing basis. That's where service management comes into play.

Suppose something is broken we need to fix it and get the IT product or service back to operational state. 
This involves looking after the software, and infrastructure in regular basis.
It may also include sub tasks such as monitoring, updating, processing batches, and improving performance.
IT projects use different frameworks but Service management uses frameworks such as ITIL. 

Importance of service management
Lets assume you buy a card offered by a bank called as ABCX2Z. You look at various things before you consider buying it. You look at the brand, the benifit it offers, value add and price you pay per year. Is that all we look for or even more? 
Perhaps a little more. Things such as insurance on card, number of ATMs, service area and so forth. In current predaciment the product brands offer and the service they provide are taken into consideration.
The services that are offered by a particular brand fall under service management. 
As per ITIL, service management is defined as:
"set of specialized organisational capabilities for providing values to customers in form of services". 
These include things such as customer service, support etc.
Hope this give you a brief idea about service management and ITIL as a framework.

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