“Firms with superior IT Governance have more than 25% higher profits than firms with poor governance given the same strategic objectives” – Weill and Ross, Harvard Business School
Why IT Governance?
In today’s increasingly competitive economic environment, everyone is trying to do more with less. IT Governance is crucial to achieving business objectives and establishing competitive advantages. What’s more, organizations today are subject to increasingly stringent regulations related to protection of data, security and financial accountability. Rising IT costs, greater risk exposure and the pervasiveness of IT in everything we do has made IT Governance a necessity rather than a luxury.
Effective IT Governance Must Address Three Questions:
- WHAT technology investments are we making and WHY?
- WHO is going to do the work and are they the right people?
- HOW will we know when things are going sideways and tough decisions are needed?
By aligning IT objectives with business strategies, plotting a course and managing IT spend and commensurate value, organizations can maximize the value of IT investments to drive revenue, reduce costs and mitigate regulatory risks. This is the power of IT Governance.
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What is IT Governance?
IT Governance is the decision rights and accountability framework to align IT investments with business strategies and encourage optimal usage of scarce IT resources. In order to be successful, organizations must actively design a set of IT Governance mechanisms (e.g., committees, processes, templates and tools) that encourage behavior consistent with the organization’s mission, strategy and culture. Without IT Governance, organizations lack alignment between IT investments and business objectives, and lose the ability to drive top- and bottom-line results.
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Kenway’s IT Governance Methodology
Kenway enables organizations to achieve effective IT Governance by first assessing an organization’s IT Governance maturity level across the five domains. After understanding the organization’s strengths, weaknesses, gaps and opportunities for improvement, Kenway leverages an iterative, five-step process to build IT Governance capabilities specific to where the organization is on its IT Governance journey.