COBIT 5®, published by ISACA, defines a comprehensive best-practice framework for the governance and management of enterprise IT. When correctly implemented, it allows the evaluation and control of information technology so that it constantly contributes to both operational and business objectives.
Put more simply, it is designed to answer the age-old business question, “Does our IT help deliver our key business objectives?”
COBIT 5 does, however, have a reputation for being complex and difficult to successfully implement, particularly in small and medium-sized organisations. This is reinforced (and perhaps promoted) by larger international corporates that do indeed have complex IT strategies and operations. They often also have a requirement to comply with the Sarbanes-Oxley Act in the US, or to address the requirements of the UK Corporate Governance Code and Turnbull Report in the UK.
How can you find out more about COBIT 5?
The good news is that you can download the COBIT 5 best practice for free from the ISACA website. Unless you want a sleepless night, however, I would not recommend that you read it all from cover to cover at the first attempt. Do read the introduction, though: it provides a particularly good summary of the IT challenges facing all organisations as they seek innovation, efficiency and accountability in a constantly changing business environment.
It’ not just about IT governance
I like the current ISACA marketing campaigns that promote the benefits of COBIT 5 and can be summarised as:
COBIT 5 improves every part of your organisation
With ideas, tools and resources to manage:
- Audit and assurance – checking and reporting that your plans are working
- Risk management – supporting analysis and treatment of key business risks
- Information security – protect against the growing threat of cyber crime
- Regulatory requirements and compliance – comply with all laws and standards
- Governance of enterprise IT – create a holistic view of stakeholder value
You will have noticed that the guidance for effective IT governance is only one part of the overall best-practice document.
COBIT 5 builds IT governance carers
Senior managers and consultants who advise on COBIT 5 are much in demand in the boardrooms of successful organisations around the world. Its best practice is proven to significantly increase the ROI of information technology in any organisation, and fully trained and qualified professionals are required to deliver this value.
Take the next step
If you would like to know how to apply COBIT 5 to your organisation, I recommend that you consider attending our COBIT 5 (2 day) training course. It explains the key principles of COBIT 5 and how they can be used to deliver effective management and governance of enterprise IT (GEIT).
It also offers delegates the opportunity to achieve the industry-recognised COBIT 5 Foundation qualification, awarded by APMG International.