Val It Framework And How It Might HelpWebinar Transcript
Val IT framework and How it might help in Software Engineering. -Poornima Tantry -Harun Oluwa -Jason Ruffing
What is Val IT?
Relatively new framework issued by IT Governance.
Chosen to support decision making process for IT investments.
Intended to optimize the realization of value from IT investments.
CobiT assists with the delivery of high quality IT services.
Define Val IT
Can be defined as standard framework for organizations to select and manage IT-related business investments and IT assets by means of investment programs such that they deliver the optimal value to organizations based on CobiT.
Domains of Val IT Framework
Value Governance – sets basis for governance framework.
Portfolio Management – Helps select investments and monitor portfolio performance.
Investment management – deals with individual investments.
Details of the Val IT Domains
Value Governance (VG)
Establish informed and committed leadership, Define and implement processes, Define portfolio characteristics, Align and integrate value management with enterprise financial planning ,Establish effective governance monitoring, continuously improve value management practices.
Portfolio Management (PM)
Establish strategic direction and target investment mix, Determine the availability and sources of funds, Manage the availability of human resources, Evaluate and select programs to fund, Monitor and report on investment portfolio performance, Optimize investment portfolio performance.
Investment Management (IM)
Develop and evaluate the initial program concept business case, Understand the candidate program and implementation options, Develop the program plan, Develop full life-cycle costs and benefits, Develop the detailed candidate program business case, Launch and manage the program, Update operational IT portfolios, Update the business case, Monitor and report on the program, Retire the program.
Val IT Objectives
Increase understanding and transparency of costs, risks and benefits.
Increase the probability of selecting investments with highest potential return.
Increase likelihood of success of executing selected investments.
Reduce the risk of high impact failure.
Reduce costs by taking early corrective actions.
The Val IT approach is a process for treating IT programs for what they really are, and that is business investments. It is a means for making better business decisions when it comes to developing and implementing an enterprise level IT investment portfolio. Through the use of applying better monitoring and control mechanisms along with decision making techniques an organization would not only have a better measure of the value potential and realization for each project, but would be able to optimize the value realized for their entire IT investment portfolio.