(Newswire.net — January 14, 2020) — While the term IT governance may not be new to IT professionals, many people, both within and outside the industry, may have no idea of what it is. Yet, IT governance is a significant and crucial component of any business or organization. Even though many are utilizing its features already, they may not be aware of it. In this article, we look at what IT governance means and the ways that the different frameworks can affect or impact your organization.
IT Governance
Information Technology Governance is defined as a formal framework or a set of structures set up to ensure that the IT systems and solutions available satisfy the needs of the business at every point and time. IT governance is the implementation of structures concerned with the alignment of IT strategies with the overall business strategy to make sure they are on course to achieve the goal and objectives of the organization as well as providing effective ways to measure the Key Performance Index.
Those involved in IT governance usually include the Chief Information Officers, Project managers, and IT Federal Managers. Their main task is to implement and manage internal policies that are put in place to ensure that the interests of all parties are catered for and that results produced can be quantified.
IT governance frameworks
There are many frameworks in use around the world today, such as COBIT, ITIL, COSO, CMMI, FAIR, etc. but the most widely used is COBIT (Control Objectives for Information and Related Technology). COBIT presents a set of processes for IT governance. It also identifies the management of these processes to ensure the delivery of maximum value.
Importance of IT governance frameworks for business organizations
- IT governance is primarily concerned with the delivery of value to consumers. As IT governance entails an executive committee and an independent board, it ensures that an organization has the right blueprint to work within every IT-related aspect. The interests of an organization may not align with those of the people managing the IT systems and this calls for an effective method to achieve synergy between the two groups. This is where IT governance comes in to marshal the IT resources and ensure value is created.
- Mitigate risk: As one of the core reasons for adopting IT governance, risk mitigation cannot be overlooked. IT is getting overwhelmed with Big Data, Mobility, Cloud, BYOD, and for there to be a sense of order, IT governance is required. By using the standard IT frameworks, you help your business to follow an effective pattern of operation and mitigate IT threats that may pose risks to your company.
- Provides guidance and steering to the company
- Develops a model deeply steeped in the company structure that delivers valuable services to consumers and clients.
Bad IT governance has been the downfall of many businesses due to several factors. The integration of IT strategies with the overall business strategy is essential to success, given the extent to which companies, today, have to rely on information technology. A good IT governance framework is expected to cover integration and oversee its implementation.