Project Management

Meet the New COBIT

Michael R. Wood is a Business Process Improvement & IT Strategist Independent Consultant. He is creator of the business process-improvement methodology called HELIX and founder of The Natural Intelligence Group, a strategy, process improvement and technology consulting company. He is also a CPA, has served as an Adjunct Professor in Pepperdine's Management MBA program, an Associate Professor at California Lutheran University, and on the boards of numerous professional organizations. Mr. Wood is a sought after presenter of HELIX workshops and seminars in both the U.S. and Europe.

COBIT 5 is finally here and promises much. How much, you ask? According to the Information Systems Audit and Control Association, a great deal. ISACA describes COBIT 5 as:

“…a globally accepted framework, providing an end-to-end business view of the governance of enterprise IT that reflects the central role of information and technology in creating value for enterprises, COBIT 5 is the only business framework for the governance and management of enterprise IT.”

How is that for setting high expectations? But wait, there’s more. ISACA touts the new version as being able to help organizations of all sizes to:

  • “Maintain high-quality information to support business decisions
  • Achieve strategic goals and realize business benefits through the effective and innovative use of IT
  • Achieve operational excellence through reliable, efficient application of technology
  • Maintain IT-related risk at an acceptable level
  • Optimize the cost of IT services and technology
  • Support compliance with relevant laws, regulations, contractual agreements and policies.”

So, what makes COBIT 5 different from Version 4.1? According to ISACA, it incorporates aspects of ITIL (Information Technology Infrastructure Library), ISACA’s own VAL IT and Risk IT frameworks, and ISO (Organization for Standardization) standards …

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