“Governance is action, procedures and processes that allow the executives and the management of an organization to measure the value provided by IT as well as the risks and costs incurred by IT, direct, manage, and/or control IT for contributing optimally to organizational value while, minimizing IT costs and managing IT risks, continuously improve IT and its contribution to the organization and its value”.(Halstead-Nussloch)
IT governance frameworks: One of the most common IT frameworks, COBIT is a framework for developing, implementing, monitoring and improving information technology (IT) governance and management best practices.
Relationship with IT governance: When adopted, this becomes part of IT governance. COBIT also helps “align business goals with IT goals by establishing links between the two and creating a process that can help bridge a gap between IT and outside departments”. (White)
Resources:
Other frameworks for approaching and rationalizing IT governance that are worth some time to become familiar include:
- The Balanced Scorecard- https://en.wikipedia.org/wiki/Balanced_scorecard, which is a tool to monitor and govern an organization’s activities, including IT.
- ISO/IEC 38500- https://en.wikipedia.org/wiki/ISO/IEC_38500, which is a standard for corporate governance of IT.
- COSO- https://www.coso.org/Pages/governance.aspx and https://en.wikipedia.org/wiki/Committee_of_Sponsoring_Organizations_of_the_Treadway_Commission
Created by Reaj Islam