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It is critical to build governance in to the execution of the Business and subsequently the IT Strategy. The objective of COBIT 5 is to help IT leaders provide a business view of the IT departments ability to create value and support enterprise goals through effective IT processes and build process capability and was developed by ISAACA to: – Develop process improvement, – Deliver value to the business, – Measure the achievement of current or projected business goals, – Benchmark and deliver consistent reporting, – Ensure organisational compliance.
Yet most COBIT 5 practitioners find it difficult to demonstrate the business value of a COBIT 5 investment and more compliance in a setting where most Business Executives would claim an increased focus on the needs of the business.
The COBIT 5 Unlocked (the missing pieces): Deliver Business Value with IT! series is a reply to ?How do we put the IT Strategy in place? and how do we communicate effectively with our stakeholders and provides a number of techniques and tools to understand how to meet stakeholder expectations where COBIT 5 can the be used to demonstrate how well this is done.
A demonstration that would cover both the "IT Business Model" that is how well do we provide IT services as well as the "Business (IT) Value Proposition" that is how well do we support the needs of the business.
COBIT 5 Unlocked (the missing pieces): Deliver Business Value with IT! – Run – Aligned to described ITIL activities and processes with a Service Strategy focus on this area.
By ISACA request I would like to indicate that this publication and supporting material does not contain content from COBIT 5 but is an indication on how to leverage the framework to meet stakeholder expectations.
The upper part of the clients that I speak to feel that there is a lack of actionable articles and publications that help to bridge the gap between the execution of the business strategy, business objectives and how IT can be used to support the latter to deliver business value. This is also the reason why I decided to put forward an execution centric material that has for objective to if not entirely bridge the gap between IT and the business provide Business and IT Decision makers the necessary common language to move forward in the same direction (pointing fingers is rarely productive).
The execution of the defined business strategy is often a mystery (missing link) both on the Business and the IT side. The truth is that regardless of how well the executive team draws out the strategy in the boardroom the bottom line is that the business initiatives that were supported by clients succeeds, those not supported by clients (that do not get it) fail and disappear.
The CIO and IT department hence needs to support the run of the current business activities as well as new emerging initiatives that will eventually form the business strategy. The cloud (internal or external) would be particularly well placed to develop new services that can then be institutionalised as the success of the initiative is confirmed.
The CIO and IT Department that sit around and wait for the Business Strategy to be formalised to build an IT strategy and vision might not make the 18 months magic mark. The IT Bottom line is that the IT Strategy should support business objectives, with new technology as needed as the IT department delivers effective IT Services and innovative technology solutions to improve competitiveness, demonstrated and articulated.
In order for the CIO and the IT Department to position as premium provider of IT services and focus on value to cost we need to understand the Business (IT) Strategy and how the IT department can deliver effectively to business objectives, that is to deliver business value with IT:
• What is the Business?s strategy and plans?
• What is the current business model that IT has to support?
• Where could IT make a significant impact on the business?
• Are there any further opportunities to use IT?
• How can we leverage IT in a ?Time to Market?, ?Cost Effectiveness?, ?Cycle Time? perspective?
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Source: Best Practices in COBIT PDF: COBIT 5 Unlocked (the missing pieces): Deliver Business Value with IT! - Run - Aligned to described ITIL activities and processes with a Service Strategy PDF (PDF) Document, Martin Palmgren
ABOUT THE AUTHOR: MARTIN PALMGREN
Martin PALMGREN, (IT) Strategy & Transformation Executive @ .COMMUNICATE
Martin Palmgren is a seasoned Senior Business / IT Strategy and Transformation Executive that has addressed Strategy formulation and roll out for fortune 500 businesses internationally with a focus on how to ensure that the business strategy and objectives are supported by IT with an effective IT Strategy and Governance (that is how do we support business objectives and processes leveraged by IT and an effective IT strategy).
Martin is an expert in "how to deliver business value with IT" where he works with both Business and IT Executives to reach this objectives and has delivered best in class practice with major actors in the Pharma, Bank, Manufacturing and Insurance Sector to articulate the "IT Business Model" "This is how we deliver effective IT services to the business" and the "Business (IT) Value proposition" This is how we support business objectives with services in a time to market perspective. He has over the last 2 years also addressed how to build an effective "Cloud Business Model" to take full advantage of the flexibility and cost advantage that new cloud solutions permit to improve Time to Market, Cost Effectiveness and Cycle Time.
Martin has accompanied a number of IT consulting companies and editors in their Go to Market with Client acquisition, (Large) Account Introductions, Alliances (notably with BIG 5 consultancies), Market Position (Forrester, Gartner, Bright Talk) and position of the Value Proposition (discovery, competitive analysis of market offerings, road map to realign solutions portfolio and transform sales and delivery operations, develop new market strategy and execution plans, and drive sales transformation, acquisition of smaller actors).
He is an international thought leader and visiting professor at some of France's top business schools, notably EDHEC where he intervenes on Innovation, Business Model Innovation, Strategy, IT Strategy (Execution), IT Governance, IT Sourcing, Cloud (Sourcing).
Martin Palmgren has published 77 additional documents on Flevy.
This business document is categorized under the function(s): Information Technology Strategy, Marketing, & Sales
It applies to All Industries
File Size: 1013.8 KB
Number of Pages: 155
Related Topic(s): COBIT
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This product contains a supplemental PDF document.
Initial upload date (first version): Nov 5, 2013
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