Assignment:
Discussion 1
IT governance creates a basis for aligning IT with business objectives. An organization can achieve its strategy and objectives by following a structured framework and producing quantifiable outcomes. The formal plan also considers the stakeholders' interest, as well as the demands of personnel and the way they function. IT governance, in general, is an important aspect of overall corporate governance. COBIT may help a variety of businesses and functions in a variety of ways. COBIT, for example, may aid in auditing and ensuring that firms manage vulnerabilities and comply with regulations. (Haouam, 2020)
Many firms employ T governance to assist manage risk, limit IT expenses, and guarantee that their IT activities are performing to their maximum capacity. Customers working with Managed Service Providers (MSPs) frequently desire assurance that the MSP will be able to offer them with the same benefits that large organizations receive through internal IT governance. Another governance structure is ITIL. COBIT is a collection of techniques that help senior management understand how to manage their company's information technology. ITIL is a road map that outlines how IT personnel should structure their everyday procedures. (Percheiro et.al, 2017)
IT governance refers to the procedures in place to assist an organization in making the most of its IT resources in order to achieve its goals. It dictates how businesses evaluate and deliver technology, as well as how they execute and utilize it to achieve quantifiable business goals. To deliver services, collect data, and engage with consumers, today's businesses rely on their IT infrastructure. Organizations may face difficult situations if they do not have a strong IT oversight plan that includes technology needs and abilities into critical decisions. This will force them to reconsider their IT investments and make significant changes instantaneously to thus become business goals. (Solaimani et.al, 2019)
Senior managers and operational-level managers can use the governance framework to clearly define and monitor individual objectives, goals, performance, risk appetite, and reporting requirements. These characteristics will also be successfully communicated to the appropriate persons inside the company. As a result, the governance framework is a guidance system comprised of conventional management practices tailored to the organization's governance framework. Goals, policies, values, culture, responsibilities, and performance are all established by the corporate governance structure (Solaimani et.al, 2019). Risk management and security risk management are critical components of a successful corporate governance strategy.
Discussion 2
IT governance is all about creating structured decisions that will eventually pertain to making smart investments that will assist in raising business. Governance plans also help in identifying risks at an early stage. This not only helps in managing but also in preventing risks. The governance plans serve as a guideline for creating a smooth and effective base for the company. COBIT focuses on what should be included in procedures or processes of the company's framework and governance plan. COBIT is better than other governance plans as it also focuses on the infrastructure of the company.
Lean IT governance plans are completely different from other governance's plans. Lean governance not only focuses on investments and risks but rather on the relations in the company. The investments are spent wisely making sure that the organisation focuses on infrastructure, customers and their staff. Lean governance also ensures that organisations' are focused to carry out their work smoothly. Making people realise that they have responsibilities to fulfil and authority to ensure that the organisation is working smoothly.
Current governance plan includes making guidelines for investments and providing basic resources for the organisation. This type of governance plan helps in smart investing to generate huge profits, also focuses on the infrastructure of the company, ensures a good friendly working environment. The relations of the co-workers also improve in the company. The company employees' sense of responsibility and the person in authority make sure that every person's responsibility is fulfilled. The company must make sure whether the governance plan for working for them, the plan should help maintain a friendly relationship between the management and goal. The governance plan should monitor organization performance and should report facts to the board. The director should recognize that managing risks is the responsibility of the board. Appointing an able leader proves to be an asset of the company.