The practices that guarantee the effective and efficient use of IT in assisting a company in achieving its objectives are referred to as IT governance (ITG).
IT governance, to put it simply, is the process of giving organizations the structure they need to align their IT strategies with their business strategies, make sure they stay on course to realize their strategies and goals and put effective methods in place to assess the performance of their IT departments.
Value delivery is one of five domains that the IT Governance Institute, an ISACA subsidiary, breaks down into.
- Strategic coordination
- Performance supervision.
- Resource administration.
- Risk control.
IT governance is a component of corporate governance that aims to enhance the management of IT as a whole and maximize the return on investments made in information and technology.
By using IT governance frameworks, organizations can effectively manage their IT risks and make sure that the activities related to information and technology are in line with their overarching business goals.
Importance Of IT Governance:
IT governance gives a company the ability to:
- Show demonstrable results in relation to more general business strategy and objectives.
- Abide by pertinent legal and regulatory requirements, such as those outlined in the Companies Act of 2006 or the GDPR (General Data Protection Regulation).
- Assure stakeholders that they can trust the IT services provided by your company.
- Increase the return on IT investment through facilitation.
- Follow specific guidelines or regulations for company governance or public listing.
IT governance frameworks, models and standards
ISO 38500 – The international IT governance standard
ITIL – IT service management
COBIT
Calder-Moir IT Governance Framework
Domains of IT Governance:
The IT Governance Institute (a division of ISACA) breaks down IT governance into five domains:
- Value delivery
- Strategic alignment
- Performance management
- Resource management
- Risk management
Other IT governance frameworks and models to consider
In addition to the frameworks listed above, there are several other models and frameworks you should consider for effective IT governance:
- King reports of corporate governance (versions I to IV)
- ISO/IEC 31000:2018 (Risk Management)
- ISO/IEC 27001:2013 (Information Security)
- Business Continuity Management And Disaster Recovery
- Knowledge Management including intellectual capital
- Program Management And Project Governance
