How does Incident Management add value to an organization?

Incident Management adds value to an organization primarily by reducing the cost of incident resolution. This practice focuses on restoring normal service operation as quickly as possible while minimizing the impact on the business. Efficient incident resolution reduces downtime, improves service availability, and allows organizations to allocate resources more effectively.

When incidents are managed well, it often leads to quicker identification and resolution of issues, thus preventing prolonged disruptions that can incur significant costs. By streamlining processes and using tools to track and manage incidents effectively, organizations can minimize the financial impact associated with interruptions of service.

The other aspects mentioned, such as creating new IT services, conducting detailed research on user needs, and standardizing all IT services, are more aligned with different ITIL practices or strategies. While these practices are important to an organization’s overall service strategy and service design, they do not directly tie into the core value that Incident Management provides, which is focused on the efficient handling and resolution of incidents to maintain business continuity and cost-effectiveness.