Information technology management (or IT management) is a combination of two branches of study, information technology and management. Strictly speaking, there are two incarnations to this definition. One implies the management of a collection of systems, infrastructure, and information that resides on them. Another implies the management of information technologies as a business function. The first definition stems from the practice of IT Portfolio Management and is the subject of technical manuals and publications of various information technologies providers; while the second definition stems from the discussion and formation of the Information Technology Infrastructure Library (ITIL). The ITIL has been in practice throughout regions of the world mainly conducted by IT service providers consulting companies. The relative paucity in the use of the best practice set can be attributed to a lack of awareness among IT practitioners. However the lack of ready-to-use tools also presents a significant barrier. Some organizations that value such practices tend to engage consultants to introduce the practice. Such implementations can conflict with the home-grown culture due to a lack of internal buy-in. Other organizations implement the practices by spending resources to develop in-house tools. Most in-house developed tools tend to focus on one or a few specific areas where the orgnizations feel the most pains. To reap the full advantages, tools will need to be integrated with the organization's IT data in the center.

Reference: http://en.wikipedia.org/wiki/Information_technology_management