I am pleased to announce that the new ISACA\ITGI Val IT Framework 2.0 is now available for download free of charge to ISACA members, or as an extract for non-members, at http://www.isaca.org/.
The release comes as part of the IT Governance Institute's (ITGI's) Val IT initiative, which is dedicated to helping enterprises optimize the realization of value from IT investments. Val IT 2.0 extends beyond new investments to include IT services, assets and other resources, and aligns terminology with COBIT. It includes a new Management Guidelines section, which defines Val IT processes and key management practices in greater detail, and maturity models for each Val IT domain.
The objectives of Val IT are to assist organizations to:
- Identify where to invest for greatest operational or competitive gain
- Establish methods of controlling investments and projects to ensure alignment with business goals
- Develop business cases for investments and ensure the accountability and ownership of deliverables to ensure delivery against the business case
- Evaluate, prioritize, and select or reject new investments
The Val IT Framework fosters the partnership between IT and the business. It helps organizations do the right things the right way and reap the associated benefits, and helps them make better decisions as to where to invest in business change.
For example a healthcare organization I have been working with has used Val IT to drive true portfolio and investment management to ensure that real value is delivered to their organization. Using the principles identified in Val IT, they identified areas of waste and conflicting projects. They then implemented a process to ensure that their investments are all focused on delivering their strategic objectives. The real value they derived in the first year included an increase in their customer satisfaction score from 3.5 to 4.5, savings in their IT expenses, and delivery of all strategic projects on time.
Stay tuned for more on Val IT but in the interim, I hope you'll take a look at the free extract.