Definition of IT governance
IT governance is an element of corporate governance, aimed at improving the overall management of IT, and driving improved value from its investment in information and technology.
An IT Governance framework enables organisations to effectively manage its IT risks and ensures that the activities associated with information and technology are aligned with the overall business objectives.
ISO 38500 is the international standard for IT governance, providing guidance for governing bodies – and their advisors – on the effective, efficient and acceptable use of IT in their organisations.
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Why is IT governance important?
IT governance enables an organisation to:
- Demonstrate measurable results against broader business strategies and goals;
- Meet relevant legal and regulatory obligations, such as those set out in the GDPR or the Companies Act;
- Assure stakeholders that they can have confidence in your organisation’s IT services;
- Facilitate an increase in the return on IT investment;
- Comply with certain corporate governance or public listing rules or requirements.
Definition of Corporate Governance
Corporate governance is “a toolkit that enables management and the board to deal more effectively with the challenges of running a company. Corporate governance ensures that businesses have appropriate decision-making processes and controls in place so that the interests of all stakeholders are balanced.”- ICSA, The Governance Institute.
A robust corporate governance framework can help you meet the requirements of laws and regulations such as the DPA 2018 and the GDPR.
For instance, the GDPR requires data controllers and processors to be able to demonstrate their compliance with its requirements through certain documentation, including relevant logs, policies and procedures.
Harnessing the elements of IT Governance will help you create and maintain appropriate policies and procedures to help meet your data privacy requirements.
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IT Governance models and standards
ISO/IEC 38500:2015 is the international standard for corporate governance of IT.
It sets out principles, definitions and a high-level framework that organisations of all types and sizes can use to better align their use of IT with organisational decisions, and meet their legal, regulatory and ethical obligations.
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As well as ISO 38500, there are numerous widely recognised, vendor-neutral frameworks that organisations can use to implement an IT governance programme.
Each has its own IT governance strengths – for instance, COBIT® focuses more on process management and ITIL® on service management – but you might benefit from an integrated approach, using parts of several frameworks to deliver the results you need.
Follow the links below to find out more about each framework.
ITIL®- IT Service Management
Widely adopted around the world, ITIL is a framework for IT service management (ITSM). Its newest iteration ITIL 4, was launched in February 2019.
ITIL is supported by ISO/IEC 20000:2011 – the international standard for ITSM against which organisations can achieve independent certification.
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COBIT (Control Objectives for Information and Related Technology) is an internationally recognised IT governance control framework that helps organisations meet business challenges in the areas of regulatory compliance, risk management and aligning IT strategy with organisational goals.
COBIT® 2019, the latest iteration of the framework, was released in November 2018. It builds on COBIT 5, introducing new concepts and addressing the latest developments affecting enterprise IT.
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This framework provides structured guidance on how to approach IT governance, and can be useful for benchmarking the balance and effectiveness of IT governance practices within an organisation.
The Calder-Moir IT Governance Framework Toolkit provides practical assistance and guidance for practitioners and board members who are tackling the subject.
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The five domains or elements 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 models to consider
In addition to the frameworks listed above, there are several other models and frameworks you should consider for effective IT governance:
IT governance auditing
As IT governance plays such a key role in strategic performance, internal auditors are expected to include it in their audit plans.
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How to establish an IT governance framework
The challenge for many organisations is to establish a coordinated, integrated framework that draws on best-practice IT governance frameworks.
We offer a wide range of products and services, including books, toolkits and training courses, that can support your organisation’s compliance with these frameworks. Browse our bestselling IT governance products and services below.