3.1.8 Further Key Practices: Part 1

This subsection outlines additional practices crucial for effective service management, focusing on supplier, relationship, security, and asset management

• Supplier Management: To ensure that the organization's suppliers and their performance are managed appropriately to support the seamless provision of quality products and services.
  • Practical Context: Managing contracts, monitoring supplier performance against agreements, building collaborative relationships with key suppliers. Ensure contracts include provisions for improvement.
• Relationship Management: To establish and nurture the links between the organization and its stakeholders at strategic and tactical levels.
  • Practical Context: Building trust, understanding stakeholder needs, managing expectations, resolving conflicts. This practice is key to value co-creation.
• Information Security Management: To protect the information of the organization. This includes Confidentiality, Integrity, and Availability (the CIA Triad).
  • Practical Context: Implementing security controls, managing security risks, responding to security incidents, ensuring compliance with regulations. Security is a shared responsibility.
• IT Asset Management (ITAM): To plan and manage the full lifecycle of all IT assets, to help the organization: maximize value, control costs, manage risks, support decision-making about purchase, reuse, and retirement of assets, and meet regulatory and contractual requirements.
  • Definition of IT Asset: Any financially valuable component that can contribute to the delivery of an IT product or service.
  • Practical Context: Tracking IT assets throughout their lifecycle, managing licenses, optimizing asset utilization, supporting procurement and disposal processes. Focus is on the financial value and lifecycle.