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Governance, Risk, and Compliance Handbook: Technology, Finance, Environmental, and International Guidance and Best Practices by Anthony Tarantino

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CHAPTER 11

IT GOVERNANCE OVERVIEW

Alan Calder

11.1 GOVERNANCE BACKGROUND

11.2 INFORMATION ECONOMY, INTELLECTUAL CAPITAL

11.3 COMPETITIVENESS

11.4 IT SERVICE DELIVERY

11.5 GOVERNANCE CONVERGENCE

11.6 STRATEGIC AND OPERATIONAL RISK MANAGEMENT

11.7 REGULATORY COMPLIANCE

11.8 INFORMATION RISK

11.9 STRATEGIC SYSTEM DEPLOYMENT AND PROJECT GOVERNANCE

11.10 IT GOVERNANCE FRAMEWORKS AND TOOLS

11.11 FRAMEWORKS

11.12 AS 8015-2005

11.13 IT GOVERNANCE—THE IMPLEMENTATION CHALLENGE

11.14 BENEFITS OF AN IT GOVERNANCE FRAMEWORK

NOTES

In the twenty-first century, information technology (IT) governance is, within the broader corporate governance context, critical for all organizations. Organizations and enterprises without an IT governance strategy face significant risks in the short, medium, and long term; those with an IT governance strategy do perform measurably better.

11.1 GOVERNANCE BACKGROUND

The "greed is good" business philosophy of the 1980s and 1990s seemed to give way, at the end of the twentieth century, to a "looting is good" approach. Catastrophic financial failure is, of course, a characteristic of the business cycle. Looting has happened before: The Bank of Credit and Commerce International (BCCI) and Maxwell Communications in the United Kingdom are good examples. Corporate collapse, originating in a failure of internal control, has happened before: Barings Bank is an instance.

The spate of collapses and financial failures at the end of the Internet bubble, though, suggested a systemic ...

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