Service Level Management is the process that forms the link between the IT organization and customers.
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Implementing Service Level Management can only be completely successful when the other ITIL processes are implemented as well.
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The main aim of SLM is to ensure the quality of the IT services provided, at a cost acceptable to the business/customer.
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The goal for SLM is to maintain and improve on service quality through a constant cycle of agreeing, monitoring, reporting and improving the current levels of service. It is focused on the business and maintaining the alignment between the business and IT.
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