What is COBIT 5 & Why Should Your Business Use it?
COBIT 5 is a newly updated version of the ISACA framework. It works to help optimize businesses's organization, goals, risk-level, and much more. Many enterprises, however, are not familiar with COBIT or the benefits it can bring to their company. Why should businesses care what this IT framework can do for them? Because it increases productivity and integrates well with many other common resources.
Having built and expanded on COBIT 4.1, COBIT 5 uses the latest thinking for enterprise governance and management techniques. It works to provide global principles, practices, analytical tools and models to help increase trust and value in information systems. Additional COBIT controls have been added, as well as an integration of ISACA’s resources into the new update. Other frameworks that are included are Val IT, Risk IT, the Business Model of Information Security (BMIS) and others.
COBIT 5 actually includes COBIT 4.1’s framework but has expanded on it greatly. Combined with other ISACA resources, Val IT, Risk IT, etc., it can now accommodate more of client's needs. These include better performance, satisfaction and a bigger difference between governance and management. Clients have many needs that the new COBIT 5 can meet.
Their main principles are to meet stakeholder's needs, cover the enterprise fully, apply a single, integrated framework, enable a holistic approach, and separate governance from management.
COBIT 5’s integrated framework is in line with other, simpler frameworks and introduced new content changes. Some of those changes were:
- Increased focus on enablers
- New Process Reference Model (PRM); one for governance and one for management
- 5 New GEIT principles
- Modified process that have been restructured to make each practice more thorough
- Process Capability Maturity Models and Assessments
- and many other practices, activities and metrics to increase productivity
Why Use COBIT 5?
- Frameworks aim to optimize business IT structure. This could be from day to day tasks to achieving long term goals. Specifically, COBIT 5 allows you maintain high quality information, meet goals,
- COBIT works to help companies be performance and compliance requirements. This has always been their mission and COBIT 5 works to continue to do that.
- Businesses use multiple platforms and frameworks in day to day life. COBIT 5 works with ITIL, ISO/IEC 20000 and 27001, Project Management Institute (PMI) and many other groups that set standards for business frameworks.
- Risk is a huge factor for organizations and that can mean many things. IT related risks, such as hacking or malware, is a major threat. COBIT 5 manages IT risk and helps to protect your system more effectively.
COBIT 5 provides globally acceptable principals, practices and tools that create trust in and value from IT. This extended guidance provides IT, business, security, risk, assurance and consulting professionals. It will give you a framework that can help your workers stay on objectives and on strategy.
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