IT Governance is a term that refers to the approach and the way of IT process management in an organization that aligns the information system and all information technology with the corporate strategy of the organization. IT Governance ensures, in the long term horizon a correct targeting of investments to the information system of the organization with clearly defined processes of assessing of all strategic development requirements.
IT Governance is actually a set of rules, relationships and processes that help to run the organization so that IT supports its strategic objectives to the maximum extent.
IT Governance principles are part of the ITIL and COBIT.
Use of the IT Governance in practice: Principles of IT Governance should be a part of every modern managed organization. Due to its functional approach, IT Governance is primarily the responsibility of the IT Director, but for its extent, it influences the jobs of almost all managers throughout the organization. Its introduction, however, especially lies in the interests of the owners, because of the increasing degree of the protection of IT investments, the performance of legal duties, data storage, handling with sensitive information and it reduces a number of risks (such as Disaster Recovery). Established IT Governance significantly facilitates the application of law requirements, such as Sarbanes-Oxley Act. If the organization decides to implement IT Governance, the best way is to introduce one of the frameworks ITIL, or COBIT.
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