Implementing Service Level Objectives (SLOs) and error budgets is crucial for balancing software delivery speed with reliability, thereby ensuring high service availability and customer satisfaction without striving for unattainable perfection. Site Reliability Engineering (SRE) teams play a pivotal role in maintaining application reliability through SLO management, which involves setting and monitoring target service levels to ensure applications function as expected. SLOs, along with Service Level Indicators (SLIs) and Service Level Agreements (SLAs), help organizations define and manage the reliability of their services, with SLAs being legally binding agreements with customers. Error budgets allow a margin for SLO violations, enabling teams to control release velocity and focus on service quality when necessary. Effective SLO management requires careful monitoring of metrics like latency, availability, throughput, and error rate, while avoiding over-alerting, to maintain a balance between innovation and reliability. The process is integral to delivering measurable and concrete reliability targets that facilitate both customer satisfaction and business competitiveness, acknowledging that perfection is neither possible nor desirable.