What is IT governance?
IT governance is a formal framework that provides a structure for organizations to ensure that IT investments support business objectives. Industry experts have planned three elements of IT governance:
Governance Principles — as the foundation for the initiatives.
Governance Structure — outlining the roles and responsibilities of the key parties to the IT governance decision-making process.
Governance Process — comprising the stages of reviewing, evaluating, approving, or rejecting new IT initiatives.
Gartner, an industry analysis company, has identified four distinct components of IT governance, namely:
1) The value of IT and the alignment of business and IT
2) IT control framework and management accountability for IT
3) System for measuring IT efficiency
4) IT Risk Management Models
Common IT Governance Frameworks:
- COBIT
- FAIR
- ITIL
- CMMI
- COSO
And this is not the complete list; many other IT governance frameworks offer both full and partial understanding of IT governance processes. When reviewing frameworks, consider your corporate culture. Does a particular framework or model seem like a natural fit for your organization? Does it resonate with your stakeholders? That framework is probably the best choice.
Read our full review If you want to implement IT governance and are looking for a suitable framework.
