July 22, 2014 - In new guidance issued today, global IT association ISACA outlines five principles organizations can use to effectively govern and manage their information and technology.
The principles, which form the core of the COBIT 5 framework, benefit all enterprises, regardless of size, geography or industry. A new white paper, titled "COBIT 5 Principles: Where Did They Come From?" offers insight into the widely used governance and management framework, including why the following five principles are key:
1. Meeting Stakeholder Needs—It is critical to define and link enterprise goals and IT-related goals to best support stakeholder needs.
2. Covering the Enterprise End to End—Companies must shift from managing IT as a cost to managing IT as an asset, and business managers must take on the accountability for governing and managing IT-related assets within their own functions.
3. Applying a Single Integrated Framework—Using a single, integrated governance framework can help organizations deliver optimum value from their IT assets and resources.
4. Enabling a Holistic Approach—Governance of enterprise IT (GEIT) requires a holistic approach that takes into account many components, also known as enablers. Enablers influence whether something will work. COBIT 5 features seven enablers for improving GEIT, including principles, policies and frameworks; processes; culture; information and people.
5. Separating Governance From Management—Governance processes ensure goals are achieved by evaluating stakeholder needs, setting direction through prioritization and decision making; and monitoring performance, compliance and progress. Based on the results from governance activities, business and IT management then plan, build, run and monitor activities to ensure alignment with the direction that was set.
"Understanding these principles will help a company effectively use COBIT to make better IT-related investments and decisions, and to drive more value from their information and technology assets," said Robert Stroud, CGEIT, CRISC, international president of ISACA. "COBIT is practical and effective for all types of enterprises, helping to ensure everyone is moving in the same direction and speaking the same language."
The "COBIT 5 Principles" white paper is available as a free download at www.isaca.org/COBIT5-Principles. The COBIT 5 framework can be downloaded free of charge at www.isaca.org/COBIT.
COBIT 5 online will launch later this year with customizable RACI charts and goals cascades. In the meantime, a preview is available at cobitonline.isaca.org.
