The document compares ITIL v3 and ITIL 4, highlighting that while ITIL 4 retains core elements of ITIL v3, there are no direct equivalent modules between the two. ITIL 4 introduces updated frameworks and guiding principles that focus on value creation and stakeholder collaboration, aligning with the needs of the fourth industrial revolution. It also outlines the Service Value System and various management practices essential for effective service management.