IT Best PracticesIT GovernanceRisk Management

Update IT Governance Policies to Beat Emerging Challenges

In a digital setup, you need constant updates to drive innovative outcomes. Accelerating technology and business challenges demand modern governance model that can help IT focus on adding strategic value.

In this article at CIO, Mary K. Pratt explains that governance is more about carrying an informed decision about business and IT to accomplish the desired outcome.

Updates for the New Era

For the past couple of decades, leadership advisors are advocating robust corporate governance to guarantee best IT practices. However, the digital era is challenging the ability of conventional governance practices to deliver speed. To survive in the digital era, the CIOs need to work with C-suite executives to update IT governance policies and practices to better meet existing market challenges. Here are some accelerating updates recommended by experts:

  1. The Shift in IT Governance Ownership: Being an enterprise capability, governance must be advocated by the senior leaders and its ownership lies with the board and executive team. The CIO should advise or authorize the IT governance design but should not keep control over the governance policies.
  2. Leaders Must Update Their Views: Good governance endorses agility and speed. Thereby, the executives and leaders must consider IT governance more of a digital enabler than a body that restricts.
  3. Focus on Outcome, Not Fixed Process: The fast-changing digital ecosystems gain amplified momentum that cannot be achieved with conventional governance practices. To lead a digital enterprise, exhibit result oriented IT governance capability achieved with the fluidity to change as often as required.
  4. Automation Can Promote Adherence: There are enough advance technologies available to help business automate workflow. IT must also leverage the same technologies and apply them to IT processes like incident management, provisioning, and problem management. This will help in enforcing consistency while supporting the speed required to keep pace with business.
  5. Tailored Governance: Instead of adopting an established framework, build your governance policies around the unique needs of your organization emerged from years of investment in transformation technologies.
  6. Flexible & Adjusting: There is no accurate formula to refresh an existing governance program. With fast-emerging digitization, organizations need to remain open and mature enough to refine their governance model. To survive in the digital economy, organizations must catch up with digital speed and constantly assess their existing capabilities while supporting digital ambitions.

Click on the following link to read the original article: https://www.cio.com/article/3326545/governance/the-keys-to-effective-it-governance-in-the-digital-era.html

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