Week 2: Aligning Risks, Threats, and Vulnerabilities to COBIT P09 Risk Management Controls Lab #2 Lab Report File: Risk Management – IS355 Sherry Best Nicole Goodyear January 23, 2018 Describe the primary goal of the COBIT v4.1 framework. Define COBIT. The purpose of COBIT is to provide management and business process owners with an information technology (IT) governance model that helps in delivering value from IT with understanding and managing the risks associated with IT. COBIT also bridges the gaps between control requirements, business risk, and technical issues. It is a control model to meet the needs of IT governance and ensure the integrity of information and information systems by developing good practices for IT control for organization.
Introduction Business analysis is a set of tasks and methods used as a link among stakeholders in order to understand the structure, policies, processes of an organization, and to recommend solutions that enable the firm to achieve its goals. The analysis involves understanding how organizations function to accomplish their purposes. It includes the explanation of organizational goals, how those goals connect to specific objectives, determining the courses of action that an organization has to assume to achieve those goals and objectives (Eva &Rollason, 2014). In a nutshell, business analysisidentifies business needs and finds solutions to enterprise problems. The basis of business analysis has been traced back from the ancient merchandisers
At the same time, it is also essential for Marks and Spencer to determine the marketing and management capabilities needed to maintain the achieved market and competitive position. For the assessment of business strategic feasibility company before new product development should en sure whether they have enough technological and human resources to manage business functions effectively or not. However, Marks and Spence assessed all of these aspects at the planning phase of new product line which ensured that organisation have feasibility to manage specific strategic changes effectively with respect to timing. In consideration to qualitative and quantitative aspects of strategic proposal it is evaluated that with new product and market Development Company can
Business Process Management has gained recognition in the Information Systems discipline (Schmiedel, Vom Brocke, & Recker, 2014). Is a “disciplined approach to identify, design, execute, document, measure, monitor, and control both automated and non-automated business processes to ensure targeted and consistent outcomes” aligned with the strategic goals of the organization as well to take advantage of improvement opportunities (ABPMP, 2009,p.24; Schmiedel et al., 2014). It allows a company to align their business strategy with their processes, increasing the performance through improvements in the precise activities of a department or across the enterprise (ABPMP, 2009). Business Process Management is considered the art and science of overseeing
PLM provides a view of the complete lifecycle of a product, from great idea to a digital BOM, to a physical product that can be easily serviced and ultimately retired. Teamcenter is a realization of this idea. Teamcenter connects people throughout the lifecycle with a single source of product and process knowledge. Teamcenter is the de facto standard for PLM, delivering modular, out-of-the-box (OOTB) solutions to fit every company´s PLM vision. Products are central to any business and PLM (Teamcenter) is an idea which helps organizing product development resources and processes together to deliver real value to business.
Role-based Insights Instant alert and response mechanism CX- oriented culture We offer consulting and best practices to help companies develop their business model around customer centricity; i.e. integrating customer experience at all customer touch points and business processes to map customer journey. Strategic
When the Enterprise Architecture is utilised in such a way, its framework can be used to make rational decisions on what will be the best practises to be adopted, the coverage area and the relationship among or between each other. Figure 1-3 illustrates how EA serves as an organizing context for the adoption and use of best practices (Bernard, 2012, p. 35). b) What Organisation and System theories would influence an EA development? Do their influences differ between small- and large-size enterprises? Discuss.
Comparing the models Introduction: SISP stands for strategic information systems planning and is the framework to follow when there is to be an acquisition of an information system within and organisation. Cecil Bozarth. (2006). explains what SISP is and its components by stating that “Strategic information systems planning, or SISP, is based on two core arguments. The first is that, at a minimum, a firm’s information systems investments should be aligned with the overall business strategy, and in some cases may even become an emerging source of competitive advantage.” Bozarth.
structure, IT governance, communicating goals and objectives to responsible persons. Also the internal auditor should define best practice for business procedures, policies, processes, risk identification techniques and control implementation. He should furthermore advise the cooperate team on leveraging technologies, adequate knowledge transfer, certification and training for audit team and other relevant end users in order to create value through Accountability: Identifying responsible persons, objective assessment and evaluation of evidence, ensure compliance to internal regulations and efficient running of business process and operations. In addition flexibility (to meet changing
The seven components and the cyclic phases provide a complete collection of procedures that facilitates the development and the implementation of the EA management function. This framework via ADM plays a key role in identifying business requirements and developing an architecture that is relevant by fulfilling all those identified requirements. Besides that, this framework aids an organisation to plan, assess and build the right architecture that suits their business objectives. Not only that, it supports the decision making process across the enterprise, provides guidance on managing IT resources as well as on change management (Urbaczewski et. al., 2006).