Cobit 5 – in 3 minutes

COBIT® 5 is a governance and management framework for information and related technology that starts from stakeholder needs with regard to information and technology. The framework is intended for all enterprises, including non‐profit and public sector.

Several global business catastrophes over the last few decades such as the Asian financial crisis of 1997, the early 2000s recession (2001 to 2003 – the collapse of the Dot Com Bubble, September 11th attacks and accounting scandals), the ENRON scandal, and the banking collapses of 2008 to 2012, have brought the term “governance” to the forefront of business thinking. On the positive side, some success stories have also demonstrated the importance of good governance. Both have established a clear and widely accepted need for more rigorous governance. Increasingly, legislation is being passed and regulations implemented to address this need, which has moved governance to the top of agendas at all levels of the enterprise.

The COBIT framework allows enterprises to achieve their governance and management objectives, i.e., to create optimal value from information and technology by maintaining a balance amongst realizing benefits, managing risk and balancing resources. Further benefits include but are not limited to:
•Maintain high-quality information to support business decisions
•Achieve strategic goals and realize business benefits through the effective and innovative use of IT
•Achieve operational excellence through reliable, efficient application of technology
•Maintain IT-related risk at an acceptable level
•Optimize the cost of IT services and technology
•Support compliance with relevant laws, regulations, contractual agreements and policies

The COBIT framework is based on principles as illustrated in this scheme:

Cobit 5

Similar to the previous COBIT versions, COBIT 5 aims at two important areas: Auditing and IT Service Management. It will offer the auditors a bridge to the service management business, and it offers the service management world a management instrument that enables them to put the pieces of the puzzle together, and get (and remain!) in control. Not in the least because new international rules force us to do so. However, compared to previous versions, COBIT 5 focusses less on auditing and revision. The influence of ITIL is strongly felt – which is not in the least because of service orientation and the positioning of the service management processes within the COBIT 5 process domains can be clearly seen. Because governance and service management are ever closer growing management disciplines, companies with IT organizations that have aligned their service management according to ITIL can enrich their Management and Governance with COBIT 5.
COBIT 5 has a more close alignment with ITIL. This confirms that IT service management and IT governance are developing into the same direction. This implies that for organizations that have organized their service management on ITIL principles, improving their IT governance based on COBIT is a logical next step.

Want to know more?

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Title: COBIT 5 – A Management Guide
Author: Pierre Bernard
ISBN: 9789087537012
Price: € 22,50

Order your copy now or view the sample file on our website.