We all know that ITILv2 contained a subsection specifically entitled IT Service Management (ITSM) i.e. Service Delivery and Service Support. But ITILv3 though having five volumes doesnt have any of the subsections dedicated for ITSM. Does that mean ITILv2 is more lucrative for ITSM?
ITIL V3 represents service management in the 5 tieir service lifecycle.
The way we think about ITIL vs ITSM is that ITIL is a framework that we use to determine what areas we need to think about. ITSM is broader, and has many other sources of expertise - such as PMBOK, CMMI, ISO20000 that may make sense to reference.