What is COBIT?
Nowadays, nothing works without powerful, secure and reliable IT. The greater the role of IT in a company's processes, the more pressing the question becomes: How professional and up-to-date is the organizational alignment and control of this - often very complex - IT?
This is where COBIT (short for Control Objectives for Information and Related Technology) comes into play. It is considered the most internationally recognized framework for IT governance and management. COBIT owes its good reputation not least to its genesis: the framework, which was developed by the International Society of IT Professionals and Accountants (ISACA), is based on concepts from several recognized frameworks, best practices and standards. These include prominent representatives such as COSO, ITIL, PRINCE2, ISO 38500 and ISO 27000.
COBIT essentially focuses on what is required to achieve appropriate governance and efficient IT management, rather than on how. At the same time, the framework looks at the subject as a large whole. It understands IT to be much more than the narrowly defined area of a company that deals with the hardware and software used on a daily basis: namely, everything that has to do with information and the technologies related to it.
Thanks to COBIT with clear goals to smooth processes
COBIT 5 defines a total of 37 governance and management objectives, which will be expanded to 40 in COBIT 2019. A company should successfully implement these requirements for its organization so that all business processes function smoothly. The framework combines IT and process goals with corporate goals to form a common strategy. It provides metrics and capability assessment models, transparently identifies individual tasks and responsibilities on the business and IT sides, and emphasizes the importance of the "human factor" for the success of all governance and management activities.
With its governance and management objectives, COBIT provides users with rules for an internal organizational structure. This allows companies to advance and develop in several areas at once:
- Effective and innovative use of IT increases its benefits for the company.
- Reliable and efficient use of technology enables operational excellence.
- The risks associated with IT are limited to an acceptable level.
- The costs for IT services and technologies can be optimized.
- The constantly increasing legal and regulatory requirements are met.
COBIT 2019: An indispensable tool for governance and management
In its version 5 - and its further development COBIT 2019 - the framework has grown into a diverse product family that provides the right solution for every requirement. Its integrative and complete view of IT governance and management makes it particularly valuable and practical.
Another advantage is that COBIT fits in perfectly with generally accepted corporate governance standards and other standards and frameworks that help meet regulatory requirements. As in previous versions, the focus remains on the level of goal setting, control and measurement. Thus, the framework optimally complements implementation-oriented frameworks such as PRINCE2 or ITIL.
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