Telecom operators worldwide are witnessing squeezed profit margins mainly due to hyper-competition. Hence, new business models/strategies are needed to help operators reduce Operational and Capital Expenditures. In this context, the Network Function Virtualization (NFV) paradigm, which consists of running Virtual Instances of Network Functions (NFs) in Commercial-Off-The-Shelf (COTS) hardware, represents a solid alternative. Virtual Network Functions (VNFs) are then concatenated together in a sequential order to form service chains (SCs) that provide specific Internet services. In this article, we study different approaches to provision SCs with resiliency against single-link and single-node failures. We propose three Integer Linear Programming (ILP) models to jointly solve the problem of VNF placement and traffic routing, while guaranteeing resiliency against single-link and/or single-node failures. Specifically, we focus on the trade-off between the conflicting objectives of meeting SCs latency requirements and consolidating as many as possible VNFs in NFV-capable nodes. We show that providing resiliency against both singlelink and single-node failures comes at twice the amount of resources in terms of NFV-capable nodes, and that for latency-critical services providing resiliency against single-node failures comes at the same cost with respect to resiliency against single-link and single-node failures. Finally, we discuss important insights about the deployment of bandwidth-intensive SCs. System (IDPS), etc.) 1 within the network [21]. From the cost point of view, telecom operators are witnessing a decrease of the revenue-per-bit, which is envisioned to be even lower than the cost-per-bit, due to the competition from Over-The-Tops (OTTs). The applications introduced by OTTs (e.g., Voice-over-IP (VoIP)) leave the Internet Service Provider (ISP) responsible for only transporting the information, hence contributing heavily in their revenue decrease. Network Function Virtualization (NFV) is a new architectural paradigm that was proposed to improve the flexibility of network service provisioning and reduce the time to market of new services [14]. NFV can revolutionize how network operators design their infrastructure, by leveraging virtualization, to separate software instances from hardware appliances, and decoupling functionalities from locations for faster service provisioning. NFV supports the instantiation of Virtual Network Functions (VNFs) through software virtualization techniques and runs them on Commercial-Off-The-Shelf (COTS) hardware. Hence, the virtualization of network functions opens the way to the provisioning of new services without the installation of new equipment. It is clear 1 A list of acronyms to ease the reading is presented in the last page of this article.