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.
The guiding principles of COBIT 5.0 are:
1. Meeting the needs of stakeholders
2. Covering the whole enterprise from end to end
3. Application of a single integrated framework
4. Ensuring a holistic approach to business decision making
5. Separating the governance from the management
What are the benfits of COBIT 5?
COBIT 5 provides a comprehensive framework that assists in achieving organizational objectives for the governance and management of enterprise IT. So, what are the benefits of using COBIT 5 to establish an IT management and governance framework?:
Maintaining high quality information to support business decisions
Achieving strategic goals and realizing business benefits through the effective and innovative use of IT
Achieving operational excellence through reliable, efficient application of technology
Maintaining IT-related risk at an acceptable level
Optimizing the cost of IT services and technology
Supporting compliance with relevant laws, regulations, contractual agreements and policies