Glossary definition: COBIT Framework Principles

COBIT: Principles for Effective IT Governance

The COBIT Framework Principles are a set of seven guiding principles for the effective governance and management of enterprise IT. The COBIT framework is a comprehensive, widely accepted approach to IT governance and management that provides organizations with the ability to effectively manage IT-related risks and realize the benefits of IT investments. The seven principles are: 1. Meeting Stakeholder Needs: IT should be managed to meet the needs of stakeholders, including customers, regulators, shareholders, and other stakeholders. 2. Covering the Enterprise End-to-End: IT should be managed holistically across the entire enterprise, from strategy to operations. 3. Applying a Single Integrated Framework: IT should be managed using a single integrated framework that incorporates best practices from multiple sources. 4. Enabling a Holistic Approach: IT should be managed in a holistic manner, considering the organization’s overall objectives, strategies, and risks. 5. Separating Governance from Management: IT governance should be separated from IT management, with governance focusing on setting policy and direction, and management focusing on the day-to-day operations. 6. Optimizing Risk vs. Return: IT investments should be managed to optimize the return on investment while managing IT-related risks. 7. Applying the Right Controls: IT should be managed using the appropriate controls to ensure that the organization’s objectives are met.