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| 60% of Organisations Get Significant Value from IT Activities A new worldwide survey of 749 CEO/CIO-level executives commissioned by the non-profit, independent IT Governance Institute (ITGI) has revealed that 60 per cent of the organisations surveyed said they are convinced that the organisation is getting a lot of value out of IT activities. Some of the benefits referenced include delivering better customer relations and risk management at a lower cost or even creating higher product leadership. Innovative companies came out as five times more likely to continually optimise processes as they recognise IT as fundamental to their business and are using it as a competitive weapon. Translated this means that conservative companies are being held back by their attitude towards IT. Speaking about the results of this research, the current International President of ITGI, Lynn Lawton, CISA, FCA, FIIA, PIIA, FBCS CITP, said: "What stood out for me was the 20 per cent of respondents who do not determine their IT resource requirements based on business priorities! So what do they base them on? Also, the fact that only 54% of respondents have implemented, or are implementing now, performance measurement for IT. Improved IT governance goes hand in hand with getting better value from IT. Companies need to determine if they are getting value from what they have in their portfolio and therefore identify what they can do without. Or even be better off without. To support this, ITGI has developed a governance framework for IT-enabled investments, Val IT, to help all those with an interest in value delivery from IT." The primary goal of VAL IT is to enable organisations to secure optimal value at an affordable cost with an acceptable level of risk from investments in business change. This can be achieved through processes and management practices in three domains: 1. Value Governance : Setting direction and criteria to obtain optimal value from the portfolio of IT-enabled investments. 2. Portfolio Management: Selecting, managing and monitoring the portfolio of IT-enabled investments to deliver optimal value. 3. Investment Management: Ensuring that individual IT-enabled investments deliver optimal value. ITGI commissioned the global survey of 749 CEO-/CIO-level executives in 23 countries to determine executives' IT governance priorities and IT-related problems their organisations have faced. write your comments about the article :: © 2008 Computing News :: home page |