Information Technology Service Management (ITSM) delivers IT-based services to organizations. It supports the attainment of business goals by aligning IT activities with business requirements. ITSM is usually implemented by following a process oriented approach that is further specified by dedicated frameworks like the ISO 20000 standard and the IT Infrastructure Library (ITIL) of the Office of Government Commerce. Due to cost effectiveness considerations a complete implementation of such frameworks is not necessarily required, since opportunities for improvements can be located in a limited set of process areas, depending on each organization’s individual case. In order to follow this approach, a concept is presented that supports the cost effective implementation of ITSM. It is based on sharing specific knowledge that eases the identification of relevant objectives within ITSM frameworks and furthermore supports the identification of dependencies for implementation planning. Results of the conducted validation case indicate the concept’s fitness for purpose.