COBIT stands for Control Objectives for Information and Related Technology. It is a framework created by the ISACA (Information Systems Audit and Control Association) for IT governance and management. It is meant to be a supportive tool for managers and allows bridging the crucial gap between technical issues, business risks and control requirements. Business managers are equipped with a model to deliver value to the organization and practice better risk management practices associated with the IT processes. It is a control model that guarantees the integrity of the information system. Today, COBIT is used globally by all managers who are responsible for the IT business processes. It is a thoroughly recognized guideline that can be applied to any organization across industries. Overall, COBIT ensures quality, control and reliability of information systems in organization, which is also the most important aspect of every modern business.

Here is a video that takes you through introduction to COBIT5:

What is COBIT framework?

The COBIT business orientation includes linking business goals with its IT infrastructure by providing various maturity models and metrics that measure the achievement while identifying associated business responsibilities of IT processes. The main focus of COBIT 4.1 has been illustrated with a process based model subdivided into four specific domains. These include Planning & Organization, Delivering and Support, Acquiring & Implementation and Monitoring & Evaluate. All of this is further understood under 34 processes as per specific line of responsibilities. COBIT has a high position in business frameworks and has been harmonized by several successful businesses. It has been recognized under various international standards including ITIL, CMMI, COSO, PRINCE2, TOGAF, PMBOK, TOGAF and ISO 27000. COBIT basically acts as a guideline integrator merging all solutions under one umbrella.

The latest COBIT version 5 came out in April 2012 and consolidates the principles of COBIT 4.1, Risk IT Frameworks and Val IT 2.0. This version draws reference form IT Assurance Framework (ITAF) from ISACA and the revered BMIS (Business Model for Information Security).

The various components of COBIT include:

• Framework – IT helps organizing the objectives of IT governance and bringing in the best practices in IT processes and domains, while linking business requirements.
• Process Descriptions – It is a reference model and also acts as a common language for every individual of the organization. The process descriptions include planning, building, running and monitoring of all IT processes.
• Control Objectives – This provides a complete list of requirements that has been considered by the management for effective IT business control.
• Maturity Models – Accesses the maturity and the capability of every process while addressing the gaps.
• Management Guidelines – Helps in better assigning responsibilities, measuring performances, agreeing on common objectives and illustrate better interrelationships with every other process.

COBIT is being used by all organizations whose primary responsibilities happen to be business processes and related technologies. This is for all organizations and business hat depend on technology for reliable and relevant information. COBIT is used by both the government departments, federal departments and other private commercial organizations. It helps is increasing the sensibility of IT processes to a great extent.

Why COBIT 5.0 is the Most Celebrated Version?

There was lot many criticisms attached to all previous versions of COBIT. They were thought to facilitate limited opportunities and sometimes eve adverse results. A major IT firm found that COBIT practices can actually lead to a “Hot Potato” situation wherein all stakeholders had passed on the tasks down the line. Critics however maintained that COBIT 5.0 encouraged paperwork and rote rules rather than merely promoting IT governance engagements and being better accountable for the same. COBIT 5.0 addresses all the criticisms that were laid against the platform in a sustainable manner. It encourages all the businesses to govern and manage information in the most holistic and integrated manner. The guiding principles of COBIT 5.0 are:

1. Meeting the needs of stakeholders
2. Covering the whole enterprise from end to end
3. Application of a single integrated framework
4. Ensuring a holistic approach to business decision making
5. Separating the governance from the management

In several cases, COBIT 5.0 has been appreciated for its ability to reduce the risk of IT implementations. All the IT initiatives will typically require quick and agile adaptations that simultaneously need regular buy-ins from stakeholders and other users. The COBIT 5.0 framework has been able to bring about a collaborative culture within the organization and this better met the needs, risks and benefits of all IT initiatives.

Advantages of COBIT 5.0 Certification

A COBIT 5.0 Certification not just prepares professionals for the global challenges to the business IT process but also delivers substantial amount of expertise information on:

1. IT management issues and how they can affect organizations
2. Principles of IT governance and enterprise IT while establishing the differences between management and governance
3. Accessing the ways in which COBIT 5.0 processes can help the establishment of the five basic principles along with other enablers
4. Discussing COBIT 5.0 with respect to its process reference model and goal cascade

COBIT 5 Training

Who Benefits from COBIT Course?

The target audiences for COBIT methodologies are individuals who are already in a position to understand the nuances of IT governance in business management practices. The course will be beneficial for:

• CIOs / IT Managers / IT Directors
• Risk Committee
• Process Owners
• Audit Committee Members
• COBIT 4.1 and earlier users
• IT Professionals in audit, risk, security, governance and assurance sectors

While the modern world is gearing towards an environment of several emerging technologies, including Consumerisation, Cloud Computing, Social Media, Big Data and Mobility, information and IT is easily the new currency. Technology ensues massive volumes of information chunks to be easily supported and managed. This raises the success rate of businesses, but at the same time raises other challenging and complex management and governance concerns for the security professionals, enterprise leaders, and governance specialists. New businesses demand that risk scenarios are better met with the power of information. COBIT 5.0 is the exact solution the modern businesses are asking for.

References:
http://searchcompliance.techtarget.com/guides/FAQ-What-is-the-COBIT-frameworks-approach-to-IT-management
http://en.wikipedia.org/wiki/COBIT
http://www.isaca.org/Knowledge-Center/cobit/Pages/FAQ.aspx
http://www.isaca.org/Knowledge-Center/cobit/Pages/Overview.aspx