In a fast-changing technology landscape, you need to keep your IT aligned with your core business objectives and strategy, but how do you actually get it there? You need to implement an IT governance framework.
An IT governance framework outlines principles and methods for effectively using IT to generate business value. The framework guides all aspects of an organization’s IT, from the people and processes to the technology, and it helps organizations produce measurable results towards achieving their goals —all while managing risk and minimizing costs.
What IT governance frameworks are already available?
While it’s possible for companies to develop their own framework from the ground up, many choose to utilize one of the main types of governance frameworks that are already widely available.
COBIT (Control Objectives for Information and Related Technologies): One of the most popular frameworks, COBIT defines how management should approach their enterprise IT and is usually used in relation to corporate governance and information management.
ITIL (Information Technology Infrastructure Library): Another highly common framework, ITIL is primarily concerned with how IT practices (including strategy, design, and operations) serve core businesses process and drive business development.
COSO (Committee of Sponsoring Organizations of the Treadway Commission): Slightly less IT-centered than other models, COSO focuses on integrating other frameworks, like enterprise risk management and fraud prevention.
CMMI (Capability Maturity Model Integration): CMMI is primarily focused on performance improvements, with set scales that evaluate an organization’s performance and quality.
FAIR (Factor Analysis of Information Risk): The newest of the IT governance models, FAIR helps organizations quantify their risk levels, such as their cybersecurity and operational risk.
Tips for Selecting the Right Framework for Your Organization
Most governance frameworks help organizations look at the current state of their IT department and what return the business is seeing on its IT investments. However, not all frameworks are built equally, so make sure to keep these factors in mind as you decide which framework is best for your organization.
IDENTIFY YOUR NEEDS
Was is currently missing from your current IT approach? Are you most concerned with cybersecurity or leveling up the performance of your IT? To get a clear picture of your requirements, you may need to take a deep dive into your cybersecurity, for example, to uncover any hidden gaps.
DEFINE YOUR OBJECTIVES
Similarly, you should define what you’re hoping to achieve with an IT governance framework. Are you looking for detailed procedures that will streamline your service management or overarching guidelines that will guide your IT approach?
GET ADDITIONAL INPUT
An IT governance framework does exactly what it says; it governs. This means everyone in your organization will be affected by the framework you choose, so you’ll want to get input from employees and any stakeholders. They’ll be able to add new perspectives and uncover any issues of which you may not have been aware.
For added insight, take advantage of our IT strategy consulting (part of our Professional Services). We take the time to get to know all aspects of your business. Then, we help you discover and deploy the right IT governance framework.
DECIDE HOW YOU’LL MONITOR & MEASURE
You can’t simply set up your framework and forget it. You need a system to measure how beneficial it is to your business. To narrow down your options, consider what you would evaluate to measure the success of each framework and how you would evaluate it.
Unsure which framework is best for your business?
Whether you’re looking to implement an IT governance framework or make improvements to your existing model, AccountabilIT is here to help you succeed. We take the time to get to know your business and then use our 150+ years of combined experience to help you nail the technology component of your business strategy. Contact us today to learn more.