Which process or function is responsible for monitoring activities and events in the IT infrastructure?

Service level management is a process that negotiates, agrees, and monitors service level agreements with customers, not the IT infrastructure itself.

IT operations management is one of the four functions defined in ITIL Service Operation and is specifically responsible for monitoring the IT infrastructure through activities such as event monitoring, job scheduling, backup and restore, and print and output management. This function ensures the stable daily operation of the IT environment by watching for and responding to infrastructure events.

Capacity management ensures that IT resources meet current and future business demands through planning and performance analysis, not real-time infrastructure event monitoring.

Incident management is the process that restores normal service operation after an incident occurs; it reacts to events but does not perform the ongoing infrastructure monitoring function.