Why is IT Governance Important? How Can You Make It More Effective?
If you are running an organization or carrying a senior role, then you must have come across the word IT governance but many people still don’t have a clear perception of this word and what it means
IT governance has many definitions and to clear the confusion of what IT governance means and why it is important is discussed in this blog. Can’t wait for more to know about it? Let’s dive right in without any further delay.
It is not sufficient for organizations to have IT systems and expect them to provide strategic value for their business. Instead, a structure must be in place to oversee, monitor, and govern these systems’ value-generating initiatives.
IT governance refers to a collective effort by the company’s board of directors, management, and other executives to ensure that the company’s IT strategy aligns with business strategy. Ensuring that companies stay on track to achieve their strategies and goals with sufficient support and enablement from these systems, implementing methods to measure their performance, and performing required risk management.
Importance of IT Governance
Without a question, IT governance is a winning strategy, but only if it is taken more seriously and approached with cautious optimism. It can help decrease expenses by assisting management in becoming more active and involved with IT investments, as well as monitoring every resource used and the rationale for its consumption. It enables an organization to ensure the technologies are used optimally & efficiently. It also ensures that there is timely fine tuning /modifications made to the infra or configurations to ensure the controls adapt as per changing business requirements or threat landscape. The following things must be considered for IT governance to be effective:
Alignment and responsiveness
Governance strongly correlates business objectives with IT portfolio management in which it gives professionals a clear picture of their IT setup’s present use case. The best part is due to IT governance you will be able to check whether there are any gaps or not, and whether the IT strategies are aligned with company goals or not.
These things are going to help the board members of the organization to take the necessary actions to overcome any hurdles in achieving the business objectives.
Another significant advantage of IT governance is that administration will always be proactive in terms of understanding the present status of IT resources and requirements to meet future needs. This allows to rearrange the IT investment and prepare well before the time.
Risks are common in business & the threat landscape is dynamic. It continuously changes with changes in business requirements & also based on external factors. An organization can definitely be better prepared against risks, by having sound governance. IT governance helps an organization adapt well to any unforeseen event by having a complete check on all the activities of your organization. Defaulted IT architecture can create big hurdles in the smooth running of the organization and IT governance is there to show whether there are any loopholes in the system or not. The team can devise risk mitigation strategies beforehand.
Execution and enforcement
IT governance would give the executive body a well-defined framework for managing all of its IT activities and initiatives. IT governance can be used as a management tool to accelerate the implementation of IT systems and the enforcement of policies. With effective governance, any deviation from the agreed path can be identified well in time & course correction can be done timely. The ultimate goal of this strategy should be to provide senior management with actionable information so that they may make informed judgments with every element in front of them.
IT governance helps you in regularly monitoring and reviewing your IT systems and human resources. Regular monitoring and review help in identifying the gaps in configuration, skill sets, controls, etc. which can be acted upon to achieve continual improvement in overall IT infrastructure.
Due to the sheer numerous corporate failures and disasters that occurred as a result of a lack of consistency between business and IT objectives or lack of visibility, IT governance has emerged as a fundamental need for enterprises.
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