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Multimatics Insight

COBIT 2019: Two Essential Principles for EGIT

COBIT 2019: Two Essential Principles for EGIT

As the world now cannot be separated from technology, there are only two choices that enterprises can make: survive or decease. Therefore, digital transformation is not an option but obligation for enterprises to sustain their business through the disruption. However, despite the countless benefits that digital transformation has to offer, some have yet transformed their digital businesses strategically. COBIT 2019 is present as a digital innovation strategy that can be implemented to optimize your enterprise's digital transformation.

COBIT 2019 is a comprehensive framework that integrates IT governance into organizational governance purposely to balance the benefits and risks of IT. Enterprises can utilize the COBIT 2019 framework to better plan and implement leading practices that can help to govern and manage the digital enterprise. COBIT 2019 was designed to be a central framework for any enterprise willing to develop Enterprise Governance for IT (EGIT). It was also developed based on two principles: principle for a governance system and principle for a governance framework. Principles for a governance system describe its core requirements for enterprise IT, meanwhile principles for a governance framework can be utilized to build a governance system for the enterprise.

Principles for a Governance System

A governance system is required for enterprises to fulfil stakeholder needs as well as to create value from the use of IT reflecting a balance between benefits, risk, and resources. Then, a governance system must be built from different types of components that can work together in a holistic way. The system also should be dynamic, meaning that one or more of the design factors are changed periodically in order to be a feasible and future-proof EGIT system.

Furthermore, A governance system should clearly differentiate between governance and management activities and structures. It also should be adjusted to the enterprise’s needs by utilizing a set of design factors that act as parameters to tailor and prioritize the components of the governance system. Last, A governance system is expected to fully cover the enterprise end to end. It is not only focused on the IT function, but also on all IT processing that is performed to achieve the enterprise goals, regardless it is located.

Principles for a Governance Framework

A governance framework acts as an essential enabling enterprises to effectively manage their IT risks while also ensuring all IT-related activities associated are in line with the business objectives. There are three principles for a governance framework in COBIT 2019. First, conceptual model. A governance framework should be based on a conceptual model which identifies the main components and relationships between the components to maximize consistency and enable automation.

After that, the data is prepared using data transforms to expose the structure of the problem to modelling algorithms. The next step involves evaluation using a test harness. Evaluation is needed to select the top standard algorithms of the data which later will be investigated further. Next, use algorithm tuning and ensemble methods to obtain the most out of well-performing algorithms of the collected data and determine the quality of it. Finally, after completing the data collecting, analyzing, and evaluating, the machine learning is now can be used to predict solution and possible future outcomes.

Conclusion

In this digital era, the application of IT is extremely required for enterprises to achieve their objectives. Therefore, implementing COBIT 2019 with its two principles, governance system and governance framework, as a digital innovation strategy will undoubtedly be advantageous for your business.

Reference:
ISACA. (2018). COBIT 2019 Framework: Introduction and Methodology. ISACA.
Salman, S. (2020, October 13). Digital Transformation Realized Through COBIT 2019. ISACA. https://www.isaca.org/resources/news-and-trends/industry-news/2020/digital-transformation-realized-through-cobit-2019

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