One of the most important aspects of any modern business is the security of information systems and ensuring quality control. COBIT5 – Control Objectives for Information and Related Technology as the name suggests is a framework that looks after the integrity of information systems in the IT Process. It analyses the risks and formulates management practices that deliver organization values associated with the business. COBIT5 is a globally recognized guideline that can be implemented in the IT Sector while also is widely adapted across various other industries as well. In Brief – COBIT5 ensures reliability of information systems through effective control policies.
THE COBIT COMPONENTS
- COBIT Framework – by bringing in the best practices from the IT Infrastructure and those of IT governance, the link to business requirements is brought forth and achieved.
- Process Descriptions – this serves as a reference model with simple understanding and hence is addressed by all the employees of a company. It is in the forms of plans, implementations & daily operations.
- Control Objectives – COBIT has formulated the complete working principles in the form of a list to ensure the control of the IT Business Directives.
- Maturity Models – Addressing the adaptability and maturity of all the processes while addressing the gaps found in implementation.
- Management Guidelines – Helps in accomplishing better supervision, dictating responsibilities and illustrating better alignment with the other processes.
Companies with high reliance on technology for relevant information benefit greatly from COBIT. It is highly used in Government, Federal departments and helps increase the sensibility of IT Processes. Being a collaborated version of COBIT4.1, RISK IT frameworks and various other models, COBIT5 is very frequently referred to as a merging solution to various organizational gaps.
So what makes COBIT5 the most celebrated version?
The guiding principles throw light on the reason why COBIT 5 is such a highly appreciated program.
- Needs of stakeholders are met – security of Information controls are major concerns for the stakeholders of the company. Bringing in policies that align business goals with relatable practices is what COBIT certifies you for.
- Covering the whole enterprise from end to end – Ensuring the entire process and functioning of operations, all aspects are taken care of with regards to information control.
- Application of a single integrated framework – COBIT5 has used references from various programs and has integrated the necessary implementations making it one handy manual for practical application.
- Ensuring a holistic approach to business decision making – COBIT5 facilitates the art of decision making that comes after looking at the bigger picture taking all accounts into consideration, finally in favor of business development.
- Separating the governance from the management – The role of management is already clustered with responsibilities and duties which does not allow enough focus to fall upon the factor of governance. COBIT5 trains you to tackle the regulation with its expert programs that helps you to efficiently have under control the functioning of the enterprise.
Benefits that COBIT5 offers from a risk management Perspective!
COBIT 5 has references from a lot of modules, including those of RISK Assessment. IT requires buy-ins from stake holders but also requires quick adaptation and the need to be agile with the processes. COBET5 helps identify the needs, the risk and subsequent benefits from the action to help in this decision making process. The collaborative culture that COBIT5 facilitates also includes a change enablement approach for when IT Initiatives require it within the implementation cycle, thus reducing the chances of failure.
For business executive along with IT Leaders- to understand the Information Management and the way to receive more from information and technology while analyzing and securing yourself from the risks involved; COBIT5 is the go-to guide. With so many implementations globally, it is the way forward.
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It stands for Control Objectives for Information and Related Technology. It is a framework that helps to maintain integrity of the Information Systems
COBIT5 helps in Risk Assessment, helps in the decision-making process for the company (identify the need, risk associated and benefits gained from it)