ITIL got a facelift with the release of version 3 earlier this year. But, many CIOs are still wondering whether to hold off on starting projects until the standard further matures or to continue moving forward with previous versions. The Information Technology Infrastructure Library (ITIL), first introduced in 1989 by the U.K.'s Office of Government and Commerce (OGC), has been attempting to modernize due to changes and updates in technology and business regulations. "For those worried about a brand new ITIL, instead of thinking of it as a big bang, think more of it being another step on an evolutionary pathway," Martin Atherton, principal analyst at consulting firm Freeform Dynamics in the U.K., told CIOUpdate.

So what exactly is new in v3? The changes are mostly focused on the business aspects of IT. The new version incorporates a system called the Service Management Knowledge System and is purportedly more customizable and described in a less complicated manner. In terms of market penetration, 40 percent of large, billion-dollar corporations have adopted ITIL; some 80 percent are expected to do so by the end of next year.

For all the details on ITIL v3:
- read the article in CIOUpdate