> # LM 3. Service Strategy

> > In this module, we introduce service strategy which gives us a big picture on IT service management and Financial Management.

> > ITIL Service Strategy involves examining the current market needs and existing offerings and creating a plan for services to meet needs. Service Strategy is made up of five separate processes: Service Portfolio Management, Financial Management, Strategy Management for IT Services, Demand Management, and Business Relationship Management.

> > NEWLY ADDED By Dr. Chi Zhang - It is also important for IT executives and IT professionals to understand budgeting and planning.

> ### To Do List

> > 1. Study LM 2. IT Service Strategy. Use the PowerPoints as a guide.
> > 2. Quiz 2 - 10 multiple choice questions from LM 2. Must be completed by 6/20 11:59pm.
> > 3. Discussion 2 - Dr. Lei Li interviewed the ex-CIO of Southern Polytechnic State University, Dr. Sam Conn. Dr. Conn answered the questions collected from the students at the time, and shared his thoughts on the ITIL framework and IT service management. You are asked to watch this video https://kennesaw.view.usg.edu/d2l/common/dialogs/quickLink/quickLink.d2l?ou=1585859&type=coursefile&fileId=Video+Lectures%2fDr.ConnInterviewVideo.html and discuss your reflections in Discussion 2.

> ### Learning Outcomes

> This module directly contributes to the following highlighted courses outcomes.

> - Describe the basic concepts in system development life cycle and project management
> - Explain the best-in-practice enterprise IT service management framework such as Information Technology Infrastructure Library (ITIL)
> - Critically analyze and evaluate an IT service organization using a service management framework
> - Formulate appropriate service level agreements

> After this module, student will be able to:

> 1. Describe the purpose of service strategy and its value to organization.
> 2. Discuss the objectives and activities of Financial Management
> 3. Discuss the objectives and activities of Service Portfolio Management
> 4. Discuss the objectives and activities of Demand Management
> 5. Explain the value generation of IT services.
> 6. Explain following concepts in financial management: budgeting, bookkeeping, cash flow, profit and loss statement and business financing.