Good governance is crucial to formulate business transformation strategies, and COBIT 2019 contributes to charting the way forward. In this article at ISACA, Christopher Anoruo describes how to utilize COBIT 2019 to reevaluate your enterprise governance program.
Commence a Mapping Exercise
Focus on assessing the business value of your organization’s standard information and technology (I&T) controls. Optimal integration of enterprise I&T can lead to digital disruption. Thus, it drives a great deal of technological innovation and business advancement. It leads to the need for mapping exercise:
- Incorporation of I&T governance via controlled objective mapping to COBIT processes
- Addressal of the need for skill development and effective deployment through EGIT
- Improvement of key performance indicators (KPIs) of people contributing to functional assignments
Cause of Failure
One of the significant reasons a governance system fails is its lack of productivity initiation and management. These programs must get sponsorship from the executives. They must define attainable objectives to understand the pace of changes required.
With the implementation of COBIT 2019, the overall culture of enterprise governance would transform. It encompasses the business and enterprise I&T functional areas. There are five key objectives of enterprise governance of I&T (EGIT) propelled by stakeholder value. Take a look:
- Value delivery
- Risk management
- Strategic alignment
- Performance management
- Resource management
Mostly operated by the internal staff, these areas are frequently evolving EGIT and business strategies. However, EGIT is different from enterprise I&T management as the governance committee takes all the vital decisions and controls its execution.
Roadmap to Sustainability
The ultimate objective is to accomplish governance processes and ascertain a roadmap to sustainable growth and development. COBIT 2019 framework facilitates strategies to achieve governance objectives by delivering value through a productive enterprise governance I&T. They are grouped under the Enterprise Data Management (EDM) domain that evaluates strategic options, directs senior management, and observes strategy accomplishments.
The Route to Achievement
The COBIT 2019 goals explain enterprise objectives. It prioritizes stakeholder needs, tailored enterprise, I&T, and enabler goals. COBIT 2019 defines 13 enterprise and 13 alignment goals without any additional IT-related targets. Both have been updated in a simple framework description to help practitioners hone their business and enterprise I&T skills.
Click on the following link to read the original article: https://www.isaca.org/resources/news-and-trends/newsletters/cobit-focus/2019/employing-cobit-2019-for-enterprise-governance-strategy