A mechanism provides a model-driven solution template-based approach for managed business services. Key assets of the business services are templatized and made configurable. The mechanism implements a metamodel describing standard service offerings that can be configured to meet specific business and operational requirements at a level of business process and system components. A cost and pricing model of service offerings helps assess the service costs and resource requirements based on a client's selection of standard and customized processes and system components. A supporting system solution is developed based upon underlying solution templates and solution artifacts as well as client-specific requirements.