Why,Governance,Key,your,Busine business, insurance Why is IT Governance Key to your Business Goals?
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In the late 1990s, the IT Governance Institute was established to stimulate international thinking around standards and methods for controlling enterprise IT investment decision-making, risks, and ensuring that business goals were met. As a result, the industry has recognized the importance of establishing IT governance and its links to overall corporate governance. There are now many valuable best practices within the ITSM industry to set up and manage IT governance. A key outcome is the necessity for business and IT to create a partnership in the planning and execution of IT governance.Although this article will not discuss the intricacies of IT governance in any more detail than it will discuss detailed underpinnings of ITSM, some key knowledge in how IT governance affects the ITSM partnership is important. IT governance directs the IT investment and therefore needs to be aligned to business governance and IT strategy. IT governance will dictate some rules of engagement on service provision; thus, businesses must consider this within the service management provision they are considering.What to Look ForMost reputable ITSPs will have some form of IT governance in place. A primary purpose of this is to ensure that value can be gained from the investment made in IT and that risks are properly and systematically managed. There is evidence that IT investments tend to be reviewed less often and with less business rigor than other types of investments. There is more than a little irony in this, given the level of business dependence on IT and the growing proportion of the overall budget that IT accounts for.Consequently, attention to IT governance within this regard is growing as a result. Although much of the detail of IT governance will not be of direct interest to the business customer, it is important that you validate the existence of IT governance in the organization and provide a sense of the corporate governance areas within your business that the ITSP should be aware of and aligned to. Your provider’s IT governance policies can tell you a lot about the provider and how aligned to your objectives they will be in the relationship. Look for indications of how their policies help protect you as a customer and create a good basis for a relationship.Look for:If they have a policy to regularly review the risk profiles of their business customers of IT servicesHow the ITSP will ensure alignment to corporate objectivesHow they govern themselves in a way that ensures alignment to your business outcomesEvidence that they have established policies governing legislative complianceAn indication that they mandate performance measurement policies in their delivery areasEvidence that there is a formal Governance Board structure, mandate, and business input mechanisms Article Tags: Business Goals
Why,Governance,Key,your,Busine