Aligning IT with business strategies is an essential feature that drives an organization’s success and functionality – the formal way of doing this is through IT governance. In this article in Cio.in, Cristina Lago tells us what IT governance means, and describes it as most popular frameworks.
What is IT Governance?
Gartner defines IT governance “as the processes that ensure the effective and efficient use of IT in enabling an organization to achieve its goals.” As such, it behooves a company to have good IT governance in order to have good corporate governance. However, implementing a comprehensive IT governance program can be costly and time-consuming.
Deloitte Consulting explains that an unbounded IT organization needs its CIOs to think beyond their individual experiences and domain expertise in an effort to view IT in a different operational and strategic light. This approach can be understood to be “unbounded IT” and it involves the breaking down of bureaucratic silos between IT and business departments.
Popular IT Governance Frameworks
ITIL: Previously an acronym for Information Technology Infrastructure Library, ITIL focuses on IT service management, and endeavors to ensure IT services support to core business processes. ITIL comprises five sets of best practices for service strategy, design, transition, operation, and continual service improvement.
COBIT: This is a comprehensive framework of analytical tools, models and globally accepted practices designed for the governance of enterprise IT. With COBIT’s roots in IT auditing, over time its scope has expanded to comprehensively support IT governance.
FAIR: A relatively new framework, Factor Analysis of Information Risk or FAIR helps organizations quantify risk. FAIR helps organizations make better decisions by focusing on cybersecurity and operational risk. Despite being a new framework, FAIR has been popular with Fortune 500 companies.
CMMI: CMMI or The Capability Maturity Model Integration method is an approach to performance improvement and was developed by the Software Engineering Institute. This method employs the 1 to 5 scale to measure the performance, quality and profitability maturity level of an organization.
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