Service Level Management (SLM) is a process within IT Service Management that focuses on defining, monitoring, and managing the quality of services provided to customers. It involves setting clear expectations through Service Level Agreements (SLAs), which outline the agreed-upon service standards, such as response times and availability. SLM ensures that services meet these agreed standards by regularly reviewing performance and making necessary adjustments. This process helps organizations maintain customer satisfaction and improve service delivery by identifying areas for enhancement and ensuring that resources are allocated effectively.