What is COBIT? - Significance and Framework
COBIT stands for Control Objectives for Information and Related Technology. It is a framework created by the ISACA (Information Systems Audit and Control Association) for IT governance and management. It was designed to be a supportive tool for managers—and allows bridging the crucial gap between technical issues, business risks, and control requirements. COBIT is a thoroughly recognized guideline that can be applied to any organization in any industry. Overall, COBIT ensures quality, control, and reliability of information systems in organization, which is also the most important aspect of every modern business.
Today, COBIT is used globally by all IT business process managers to equip them with a model to deliver value to the organization and practice better risk management practices associated with the IT processes. The COBIT control model guarantees the integrity of the information system.
Check out our video on Introduction to COBIT 5 Foundation Training.
What is The COBIT Framework?
The COBIT business orientation includes linking business goals with its IT infrastructure by providing various maturity models and metrics that measure the achievement while identifying associated business responsibilities of IT processes. The main focus of COBIT 4.1 was illustrated with a process-based model subdivided into four specific domains, including:
· Planning & Organization
· Delivering and Support
· Acquiring & Implementation
· Monitoring & Evaluating
All of this is further understood under 34 processes as per specific line of responsibilities. COBIT has a high position in business frameworks and has been recognized under various international standards including ITIL, CMMI, COSO, PRINCE2, TOGAF, PMBOK, TOGAF, and ISO 27000. COBIT basically acts as a guideline integrator—merging all solutions under one umbrella.
The latest COBIT version 5 came out in April 2012 and consolidates the principles of COBIT 4.1, Risk IT Frameworks, and Val IT 2.0. This version draws reference form IT Assurance Framework (ITAF) from ISACA and the revered BMIS (Business Model for Information Security).
The various components of COBIT include:
· Framework – IT helps organizing the objectives of IT governance and bringing in the best practices in IT processes and domains, while linking business requirements.
· Process Descriptions – It is a reference model and also acts as a common language for every individual in the organization. The process descriptions include planning, building, running, and monitoring of all IT processes.
· Control Objectives – This provides a complete list of requirements that has been considered by the management for effective IT business control.
· Maturity Models – Accesses the maturity and the capability of every process while addressing the gaps.
· Management Guidelines – Helps in better assigning responsibilities, measuring performances, agreeing on common objectives and illustrating better...