COBIT Framework

The Control Objectives for Information and related Technology (COBIT) is a set of best practices (framework) for information technology (IT) management created by the Information Systems Audit and Control Association (ISACA), and the IT Governance Institute (ITGI) in 1992. COBIT provides managers, auditors, and IT users with a set of generally accepted measures, indicators, processes and best practices to assist them in maximizing the benefits derived through the use of information technology and developing appropriate IT governance and control in a company.

COBIT has 34 high level processes that cover 210 control objectives categorized in four domains: Planning and Organization, Acquisition and Implementation, Delivery and Support, and Monitoring. COBIT provides benefits to managers, IT users, and auditors. Managers benefit from COBIT because it provides them with a foundation upon which IT related decisions and investments can be based. Decision making is more effective because COBIT aids management in defining a strategic IT plan, defining the information architecture, acquiring the necessary IT hardware and software to execute an IT strategy, ensuring continuous service, and monitoring the performance of the IT system. IT users benefit from COBIT because of the assurance provided to them by COBIT's defined controls, security, and process governance. COBIT benefits auditors because it helps them identify IT control issues within a company’s IT infrastructure. It also helps them corroborate their audit findings.

Recently, ISACA has released Val IT, which correlates the COBIT processes to senior management processes required to get good value from IT investments.

Val IT
Val IT is a suite of documents that provide a framework for the governance of IT investments, produced by the IT Governance Institute (ITGI). It is a formal statement of principles and processes for IT portfolio management.

Val IT allows business managers to get business value from IT investments, by providing a governance framework that consists of a set of guiding principles, and core processes that are further defined as a set of key management practices.  These major processes are Value Governance Portfolio Management, and Investment Management.

Contact us today to find out how we can help your IT organization implement extensible IT governance and actionable IT Porfolio Management & Investment Management.

  COBIT OVERVIEW

Sound business decisions are based on timely, relevant and concise information. Specifically designed for time-pressed senior executives and managers, the COBIT Executive Summary consists of an Executive Overview which provides a thorough awareness and understanding of COBIT's key concepts and principles. Also included is a synopsis of the Framework, which provides a more detailed understanding of these concepts and principles, while identifying COBIT's four domains (Planning and Organization, Acquisition and Implementation, Delivery and Support, Monitoring) and 34 IT processes.

  Framework
A successful organization is built on a solid framework of data and information. The Framework explains how IT processes deliver the information that the business needs to achieve its objectives. This delivery is controlled through 34 high-level control objectives, one for each IT process, contained in the four domains. The Framework identifies which of the seven information criteria (effectiveness, efficiency, confidentiality, integrity, availability, compliance and reliability), as well as which IT resources (people, applications, information and infrastructure) are important for the IT processes to fully support business.

  Control Objectives
The key to maintaining profitability in a technologically changing environment is how well you maintain control.[citation needed] COBIT's Control Objectives provides the critical insight needed to delineate a clear policy and good practice for IT controls. Included are the statements of desired results or purposes to be achieved by implementing the 214 specific and detailed control objectives throughout the 34 IT processes

  IT Assurance Giudelines
To achieve your desired goals and objectives you must constantly and consistently audit your procedures. Audit Guidelines outline and suggest actual activities to be performed corresponding to each of the 34 high-level control objectives, while substantiating the risk of control objectives not being met. Audit Guidelines are an invaluable tool for information systems auditors in providing management assurance and/or advice for improvement.

  Management Guidelines
To ensure a successful enterprise, you must effectively manage the union between business processes and information systems. The new Management Guidelines are composed of Maturity Models, to help determine the stages and expectation levels of control and compare them against industry norms; Critical Success Factors, to identify the most important actions for achieving control over the IT processes; Key Goal Indicators, to define target levels of performance; and Key Performance Indicators, to measure whether an IT control process is meeting its objective. These Management Guidelines will help answer the questions of immediate concern to all those who have a stake in enterprise success.

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