It was launched by the Isaca Professional Association, which stands for audit information systems and control associations, as a good practice framework. The motive for making COBIT is to build the simplest and most common media for interactions between various business personalities.
The first version COBIT was released in 1996. Then, version 2 was developed in 1998 and further evolved to version 3 in 2000. Version 4 and 4.1 were launched sequentially in 2005 and 2007 respectively. The latest version, COBIT 5 was released in April 2012.
COBIT is made for the management and governance of information technology. COBITcertification is intended to implement IT practices (management and governance) to an organization. One can monitor and thus increase the actions that are put forward to the purpose. Thus, it has all control requirements and technical problems.
Organizations that are completed well understand the purpose of COBIT. This helps in providing the IT governance model, which further helps provide data from it and checks data to measure and manage risks and other factors.
After COBIT version 4.1, we have reached COBIT 5 which is the latest version of the ISACA global framework. The COBIT version provides business executives with practices, models, and various tools to help improve efficiency and accuracy in the values received from the information system.
4 main features COBIT 5
1. The first important feature of COBIT 5 is that it is released by the evolution of the models of maturity COBIT 4.1 for the model of the COBIT process capability 5. Both models perform the same task but the structure of the framework in the new process capability model is modified.
2. COBIT 5 provides a Balanced Scorecard (BSC) feature, which is used to understand its business values. It is used in various organizations to measure company execution in various fields.
3. COBIT 5 is made to focus more on business and it is an integrated form. This will help improve the organizational system as a clarification and communication role and prevent the company from being damaged by several problems related to information and technology.
4. COBIT 5 was developed to have more focus on process objectives, adding more value to the approach used here compared to COBIT 4.1.
COBIT 5 is built on several basic but important principles. Isaca, alone, raised these principles, namely:
• Meeting of stakeholder needs
• Includes end-to-end companies
• Implement a single integrated framework
• Enables a holistic approach
• Separating governance from management
COBIT (control objectives for information and related technology) help organizations meet business challenges in the field of regulatory compliance, risk management and harmonize organizational strategies with organizational goals. COBIT 5, the latest iteration of framework, released in 2012.
COBIT 5 is summarized
COBIT 5 is based on five important principles for effective company management and governance:
Principle 1: Meeting Stakeholder Needs
Principle 2: Cover the edge of the company to the end
Principle 3: Apply a single integrated framework
Principle 4: Allows a holistic approach
Principle 5: Separating Governance from Management
The five principles enable organizations to build a holistic framework for governance and management built on seven ‘enabler’:
People, policies and frameworks
Culture, Ethics and Behavior
Services, infrastructure and applications
People, skills and competencies
Together, principles and enablers allow organizations to harmonize IT investment with their aim to realize the value of the investment.
Benefits of COBIT.
COBIT 5 framework can help organizations of all sizes:
Use effectively to achieve business goals;
Use technology to promote operational excellence;
Ensure risk is managed effectively;
Make sure the organization is aware of their investment value in it; and
Achieving compliance with laws, regulations and contract agreements.
COBIT 5 and other frameworks
COBIT 5 has been designed with integration in his heart. It is harmonized with various frameworks and standards of best practices, such as Itil®,
ISO 20000 and ISO 27001.
It is possible to take an integrated approach when applying the IT governance framework, using part of several different frameworks and standards to provide the results you need. In the Pragmatic Service Management Application, Suzanne Van Hove and Mark Thomas gave an approach to integrating COBIT 5, ITIL and ISO 20000 which gave better investment returns and harmonized them with organizational goals.
The implementation device for the IT governance control framework has been designed to simplify the complex process of COBIT implementation. It provides a documentation template that includes all 37 COBIT processes and ready-made policies and procedures that will save your time and money when implementing COBIT.
Biswajit Rakshit is a professional blogger and writer. He loves to write on various topics.