Many business transformations and IT-related project failures can be attributed to poor governance. Today, many organizations embark on transformation programs to support their growth and ensure their survival. Organizations of all sizes want to use data science, artificial intelligence, and machine learning to remain competitive in the market. However, this innovation requires new business models, roles, and capabilities to manage data, processes, and tools. This article at CIO by Mary Pratt speaks about how agile governance reshapes innovation.
Josh Hamit, CIO of Altra Federal Credit Union, knows why IT governance has a bad reputation. Hamit says, “When I and others think of governance, it has the connotation of being slow and having a lot of hoops to jump through, and that’s scary for an organization in this age of digital transformation.” Therefore, Hamit’s governance structure specifies roles and duties, allocates decision-making and responsibility, and develops procedures to keep his technology team focused on strategic goals. “So much of agile governance is about optimizing IT expenditures to deliver value to the firm,” Hamit explains.
In addition, risk assessments and change management procedures ensure that technological goods and services comply with regulations, security requirements, and user expectations.
IT governance is the set of rules, processes, and tools that guide and regulate the operation of the technology function. According to experts, regardless of the origins of IT governance, many CIOs follow a governance philosophy based on conventional criteria, such as stability and availability.
“We use it to control things. Governance has become a way of restricting something that could or does go wrong,” says Valence Howden, principal director at Info-Tech Research Group and an analyst.
Today’s IT executives want a governance structure built on adaptability and innovation. It allows their technology teams to move as quickly and frequently as the markets demand.
Mary Pratt also speaks about imperative changes, the new elements of IT governance, and future governance.
To read the original article, click on https://www.cio.com/article/188949/rethinking-it-governance-for-agility-and-innovation.html