Employing the governance, risk, and compliance (GRC) model is not easy. Mostly the challenge ranges from facilitating transformation to embracing automated tools and infrastructures. Nonetheless, IT leaders must invest a thorough governance practice to benefit from the GRC model. In this article at ISACA, Mostafa Elghazaly defines why visibility is inadequate to establish effective IT governance. Seamless communication, on-the-job training, and strengthening of compliance practices are equally essential. The CIOs must also discover ways to turn IT governance into a mandatory element in the project processes.
Enterprises must incessantly invest in the governance model to cope with the fast-evolving IT and business requirements. Some common hurdles occur when an organization participates in multiple modernized programs, though. To avoid such pitfalls, reinstall an appropriate business strategy that turns GRC technologies and policies into a suitable action plan.
The IT leaders and business management team must also frequently assess the GRC programs to align the operating model with the desired outcome.
A suitable GRC program is the fusion of advanced technology and automated tools. Observe and implement these steps to create a roadmap for the right GRC operating model:
- Underline the possible limitations first by analyzing functional and technological design principles. Now, rank them to accelerate their priority and ascertain the difference between preferred and necessary GRC program needs.
- The next step must encompass advanced technology, budgeting, return on investment (RoI) assessment. Ideally, finding a GRC model could suffice your core competencies. Through your present and impending functionalities, formulate a cost-efficient business model that influences people, processes, and prospects.
- Cultivate a business roadmap that can convert an operational tool into a successful operating model.
- In the end, explore, analyze, and verify the governance, risk, and compliance model by validating its functionalities and performance.
A highly persuasive GRC model is essential for smooth business operations. It not only brings visibility but also enables the stakeholders to learn and react to the governance regulations.
Click on the following link to read the original article: https://www.isaca.org/resources/news-and-trends/newsletters/atisaca/2020/volume-18/how-to-build-a-strategic-and-effective-grc-operating-model