All parties and all resources involved in continuous service management and delivery have to understand all financial aspects so they can comply with the requirements and take appropriate action if needed.

The Finance And Contracts work stream creates the necessary procedures and work instructions per party and per resource as needed to:

• Estimate, plan, forecast costs
• Record, track and control hours spent and costs
• Make proposals for additional work or project work
• Report out to both internal and external stakeholders
• Create and send correct and timely invoices and their mandatory attached specifications
• Track payment of invoices
• Track revenue generated.

The procedures can either be incorporated in the artifact Service Governance Plan (SGP) or in separate documents, Financial Management Procedures artifact, or as attachments to the SGP.

To reflect who is Responsible, Accountable, Consulted, Informed, Verifies or Signs-off (RACIVS) in relation to financial management aspects the artifacts Service Engagement Roles And Responsibilities Matrices and Service Delivery Roles And Responsibilities Matrices are updated as needed.

All artifacts created are stored in the appropriate document repository for future use during the continuous service delivery.