IT governance is often employed in many organizations to manage risk and control IT costs. Today, an organization’s competitiveness and success are dependent on how well the organizations stay compliant with the regulations that further help in governing data protection, disaster recovery, and financial accountability.
In this article at GB Advisors, Genesis Rivas discusses the best practices in IT governance. If you want to discover an effective way to establish more profitable IT strategies, read on.
Objectives of IT Governance
IT governance must be aimed at achieving the essential business goals, such as:
- Measuring the performance related to IT management, detecting failures, and ensuring continuous improvement
- Establishing optimal processes based on industry best practices that include task automation, project execution, and service delivery
- Creating accurate reports that provides information about the projects or activities executed within the company
- Dividing the responsibilities among employees who are actively involved in ensuring the better workflow
IT Governance Best Practices to Follow
IT governance best practices will positively impact long-term corporate performance. However, it is the organization’s responsibility to design and implement them. Here are some of the IT governance best practices that you must follow:
Build a Strong Team and Evaluate the Performance: IT Governance team must have members who are knowledgeable and have expertise relevant to the business. They must be competent and qualified to commit to their duties. “These professionals are necessary when making decisions regarding IT investment, as they are the ones who know best the company’s performance and shortcomings in this area,” says Genesis.
Define Roles and Responsibilities: Establish clear lines of accountability among IT governance committee members. Create a written mandate for each member setting out their duties and responsibilities.
Highlight Integrity: Make members responsible for oversight and management of the policies and procedures.
Engage in Effective Risk Management: IT governance team must regularly identify and assess the risks that include reputational, operational, financial, industry-related, and legal risks. The team must carry out the constant monitoring of IT to know if IT is accomplishing the required service delivery.
If you want to learn more about IT governance structure and best practices, click on https://www.gb-advisors.com/it-governance-best-practices/.