ITIL V3 and the PMBOK - Distinct but Complimentary
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Overview: Project management, in a general sense, is the discipline of defining and achieving targets while managing and optimizing the use of resources (time, money, people, materials, energy, space, etc). ITIL as embodied in ITIL Version 3, which when implemented becomes IT Service Management, is roughly the same for IT Operations; it is the set of good practices needed to define achievable IT service targets while optimizing the use of IT Assets (information, knowledge, applications, infrastructure, management, organization, processes, people), This white paper examines both of these important disciplines primarily in the context of their similarities, especially as it relates to an important topic to both; that of portfolio management.

