It is important to assess a service with consideration to the impact of costs and risks on utility and warranty. This is important to gain a complete picture of the viability of a service.

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It is important to assess a service with consideration to the impact of costs and risks on utility and warranty. This is important to gain a complete picture of the viability of a service.
To support a holistic approach to service management, ITIL® 4 defines four dimensions. These dimensions are critical to the effective and efficient facilitation of value for customers and other stakeholders in the form of products and services. The four dimensions must be considered for every service. The four dimensions are relevant to all elements of the Service Value System (SVS). Failing to consider all of the four dimensions can lead to services that offer poor quality or efficiency or may even mean services aren’t delivered at all. The four dimensions can overlap and interact in unpredictable ways.
ITIL - (Information Technology Infrastructure Library) describes practices for IT service management. AXELOS introduced ITIL4 in Feb 2019. ITIL4 introduced new way to look at IT Service Management through a Service Value System (SVS). Service Value System (SVS) provides a holistic end-to-end picture of how components and activities of an organization work together to facilitate value creation. It also integrates concepts from models such as Lean IT, Agile and DevOps.