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Defining Visible IT Governance and Its Components

Information technology governance can be defined as an integral component of corporate governance. It strives towards collective management of IT and derives essential value from investment in information and technology. However, some professionals are quite uncertain if visibility is a decisive factor for effective IT governance or not. Establishing a visible governance framework for corporate governance in information technology enables a business to align its aspects in accordance with laws and regulations formulated by your government. Furthermore, IT governance also helps companies be aware of the requirements necessary for data security and privacy. In their article, IT Chronicles mentions the importance, benefits, and varying components of IT governance.

Benefits of IT Governance

The benefits of IT governance vary between different businesses. For highly regulated industries, IT governance helps firms maintain compliance with government requirements. Besides, IT governance helps companies to reduce risks related to information technology, data, and privacy. Because of IT governance, IT resources are aligned in an effective way to meet the company’s demands. Furthermore, IT governance enables organizations to achieve the benefits of information governance.

Components of IT Governance

In a conventional sense, IT governance is supposed to have four essential components:

  • A governance framework, that includes processes, responsibilities, policies, guidelines, metrics, actions, and strategies.
  • Business benefits, that help business owners get a clearer understanding of the benefits they should expect from their business. The benefits could also include several intangible factors such as improved employee satisfaction. However, it is crucial for companies to analyze the data quantitatively. It generally helps businesses achieve desired goals in a measured and strategic way.
  • Management, that focuses on the governance activities like benefits management, portfolio management, and strategic management, to name a few. It is considered an integral aspect of IT governance because it manages all the activities conducted in the organization.
  • Optimizing risk that strives to include IT and business continuity planning, aligned to any legal or regulatory requirements. It also enables generating visibility into effective IT governance.

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