Rules to live by – All too often, companies make investments in new technology only to see those investments fail to realize the value that was expected? But why does this happen? We thought that we knew exactly what to do, but something was missing. What was missing?
Normally, what absent is Governance. Companies must have a proper set of governance in place to succeed. With governance, failure is very predictable. But, what is governance anyway?
The primary goals of Governance are to assure that the investments in IT generate business value, and to mitigate the risks that are associated with IT. Organizations and businesses need a structure or framework to ensure that the IT function is able to sustain the organization’s strategies and objectives. MICAN has experience designing and implementing governance, we can help you to succeed.
Today, any technological solution needs to be one that can move fast and be deployed almost instantly. It must be agile. The time pressures on technology are immense, so we can never waste time.
Governance begins with these five capabilities:
- A suitable framework to shape your governance approach
- Direct linkage between the business strategy and the technology strategy, alignment is mission critical
- Measurable benefits that are derived from the implemented technology solutions
- Risk management is a key part of all governance plans. How you address risks will make or break your governance plans
- Resource management is vital, not just for the new technology but how the new integrates with the old, all technologies must seamlessly dovetail into one holistic solution to realize the best outcomes
Below is an example of a framework for the Internet of Things governance. It will vary by company, so one approach is not universal or can be applied plainly to every company. Good governance is design to fit the needs of the business and must bring together the people, resources, and technology that is unique to the specifics of the business.
If you need help to define your Governance, then MICAN can help. We understand corporate / business governance, IT governance, and OT governance. MICAN can make these three governance focus points work together.