Project Management and IT Governance (Part-I)
Project Management and IT Governance
The evolution of Information Technology (IT) in last few decades has been incredible. It started as purely experimental journey to purely support mechanism, now IT is virtually present in every domain and all walks of life. Even mission critical systems like NASA missions or ISRO missions would not been possible without Information Technology. Now businesses are relying on IT to manage business process, for driving business growth, ensuring customer satisfaction and lot more. Businesses have gone steps forward over the period and realized that IT is fundamentally critical to sustaining growth, innovation & business transformation.
According to Gartner, IT governance (ITG) is about having processes to ensure the effective and efficient use of Information Technology to enable an organization to achieve its business goals. Essentially, IT governance is focused on value creation by undertaking IT projects and associated project management.
Need of IT Governance
Today IT has become pervasive in enterprises be it private or public. Successful enterprises have recognized that the governing board & management executives need to embrace IT and must ensure that business and IT collaborate and work together.
To ensure sustainability of businesses and to assess and align of IT projects with business strategies, governing board and management executives of enterprises need to extend governance to information technology (IT) projects. It is aimed at providing leadership, structured approach in terms of people and processes to ensure that IT sustains & extends strategies & objectives of business enterprise.
Aspects Covered in IT Governance
- Strategic Alignment: Alignment of IT investments with business strategy.
- Value Delivery: Ensures IT investments delivery value over the entire life cycle.
- Risk Management: Ensures strategic objectives of the business are not jeopardized by IT failures.
- Resource Management: Ensures optimization of IT resources.
- Performance Measurement: Ensures business & IT to fully understand how IT is contributing to the achievement of business goals.
IT Governance Frameworks
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