What is IT Governance?
Nowadays we are continuously acquiring knowledge, storing data, and coming up with different innovative ideas to improve our business and private environment. While we are collecting and operating with huge data, we are also struggling to manage and protect those data maintaining IT governance.
The organization can become competitive if they have access, relevant, accurate, and complete business information with them. For every organization, data is an important asset. An organization's important decisions and related activities happen based on data. So IT governance has to maintain by organisation.
Information and knowledge which get transformed from data is a key competitive advantage for every organization, irrespective of geographic area and size of data. Information technology ( IT ) is widespread in every industry and organization in the entire globe. It is constantly evolving and it has various challenging discipline with a lot of moving parts critical factors, where IT (Information Technology) governance ensure that IT department follows without losing focus.
This article about IT infrastructure compliance and standards it's different frameworks.
What is IT Governance or Information Technology governance?
Governance comes from
the word “govern” which means to control the actions of a group for the benefit
of the entire. IT is governance actually a part of the corporate governance strategy
of an organization.
This defines how organizations align their IT strategy with business strategy, safeguarding that organization will stay on track to achieve their strategies and goals, and implementing policy & process in line with international standards and compliance.
Simultaneously Its also ensure that every related stockholder’s
interests are taken into the account and will provide measurable results
through the process.
Due to the involvement of multiple processes, which IT employee can manage better risk and operate efficiently for the benefits of the organization.
As a primary goal, It ensures generating business value against investments in IT,
and to mitigate the risks that are associated with it.
This can be done by defining a good organizational structure with roles and responsibility of information, business processes, applications, and infrastructure.
To meet the organizational
objectives all businesses need a structure or framework, which will ensure the sustainability
of IT function, strategies, and objectives.
For IT governance framework includes three elements like Governance structure, Governance
principles, Governance process.
Governance
structure, it defines the roles and responsibilities of the major stakeholders in the IT the governance decision-making process, including organizations and organizational
elements at the branch level.
Governance principles,
through which all IT initiatives will be governed.
Governance
process, where various stages required to review, assess and approve or
reject new IT initiatives.
What we can expect implementing IT governance?
Implementing governance, an organisation can expect three main results. One is- IT implementation ensure generating business. Second – Helps the IT manager’s performance measurement. Third – Risk assessment and mitigation.
What are those frameworks?
The most common IT
governance framework are, COBIT, AS8015-2005, ISO/IEC 38500:2015, ITIL, COSO, FAIR,
etc.
What is COBIT ?
A framework like COBIT offers more value and benefits realization, risk optimization, resource optimization, and help to align business and IT strategies. This is the most popular framework.
It provides the reference of 37 IT processes, and each process defined input process and outputs process, objectives, methods to measure performance and more. Having such a process and organizational structure in place, the organization will improve continuously.
What is ISO/IEC 38500:2015 ?
It provides controlling principles for members of governing bodies of organizations (which can comprise owners, directors, partners, executive managers, or similar) on the effective, efficient, and acceptable use of information technology (IT) within their organizations.
This is a framework of best practices for delivering IT services. It's a systematic approach to IT service management that can help businesses manage risk, strengthen customer relations, establish cost-effective practices, and build a stable IT environment that allows for growth, scale, and change.
ITIL five management best practices from strategy to design that ensure best IT supports & core business operations.
What is AS8015-2005 ?
This is Australian Standard for Corporate Governance of Information and Communication Technology. It is a technical standard developed by Australia Committee IT-030 and published in January 2005.
The standard delivers principles, a model, and vocabulary as a basic framework for implementing effective corporate governance of information and communication technology (ICT) within any organization.[A technical standard developed in Australia and published in 2005, this framework includes six principles for effective IT governance.
Committee of Sponsoring Organizations of the Treadway Commission (COSO). This framework focus on the general process than the IT process with risk management and fraud prevention.
The COSO framework divides internal control objectives into three different categories like operation, reporting, and compliance. The operation aims targets such as performance goals and safeguarding the organization's asset against fraud, focus on the efficiency and competence of business operation.
It's known as Capability Maturity Model Integration is a process level improvement training and assessment program. Managed by the CMMI Institute, a subsidiary of ISACA, it was developed at Carnegie Mellon University. It is required by many U.S. Government contracts, especially in software development.
General Data Protection Regulation, the General Data Protection
Regulation. It is a regulation in EU law on data protection and privacy in the
European Union and the European Economic Area. It also addresses the transfer
of personal data outside the EU and EEA areas.
What is FAIR ?
Factor Analysis of Information Risk, this framework has an importance on cybersecurity and assessment, it is a classification of the factors that contribute to risk and how they affect. It is primarily concerned with establishing accurate chances for the frequency and degree of data loss events. It is not a methodology for performing an enterprise risk assessment.
There are many more in IT governance frameworks that offer a full and partial view of IT governance processes framework, which can be useful when it comes to the application of a compact and an effective IT governance process.
https://www.cio.com/article/2439501/infrastructure-it-infrastructure-library-itil-definition-and-solutions.html
https://www.coso.org/Pages/default.aspx
1 Comments
Nice information related to IT governance . Under current covid-19 situation its important for the organizations to stick to the IT governance.
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