Understanding COBIT: COBIT Framework, Structure, Components & Benefits
IT management teams are well-equipped with best practices frameworks. These frameworks often contain principles, philosophies, and tangible ways to move forward. This allows organisations to improve their cost and resource management, measure risk effectively, improve customer service efficiency, and perform predictive analyses.
Organisations are achieving new heights in terms of growth as technology advances each day. New technology makes it possible to achieve advanced goals, whether you are looking for IT services in the government or private sector.
ISACA (Information Systems Audit and Control Association), has created a new platform called COBIT to make it easier for managers and maximize profitability.
What is COBIT?
COBIT stands for Control Objectives for Information Technology. COBIT was created by ISACA to improve IT governance and management. It is a powerful support tool for managers and bridges the gap between technical problems, business risk, and control requirements.
COBIT is a well-known guideline that can be used in a variety of industries and organisations around the globe. COBIT’s most important function is to ensure the quality, control, and reliability of information systems within organisations, government-owned and private.
The COBIT Framework
In the past, IT and marketing were two distinct departments within an organization. Their goals became more similar as technology advanced. The COBIT framework was created to link the business goals and IT operations. This is achieved by providing key information metrics, maturity models, and other tools that allow integration of IT and business aspects within an organisation. These metrics can also be used to monitor progress.
The COBIT framework has two main parameters that affect its scope and operation. These parameters are:
Control Objective: This refers to creating procedures, policies, and organizational structures. They are used to ensure that stakeholders have assurances that they will achieve their business objectives and that IT and enterprise risk management will be managed.
IT Control Objective: This statement takes into account the acceptable IT results and goals after implementing the processes within the control objective.
COBIT is the preferred platform of many organisations, as it defines IT governance as an entire structural entity and not as a part of IT. This allows for the inclusion of the entire organisation, which helps to maintain security and achieve business goals.
Additional reading:7 Things You Need to Know About Cyber Security in Cloud
Components of COBIT
This is useful in organizing IT governance goals and putting them in place