IT Governance Institute Seeks Comments On New Risk IT Framework

The nonprofit and independent IT Governance Institute is seeking public comment on its new IT risk framework, which is based on the globally recognized COBIT IT governance tool set.

The nonprofit, independent IT Governance Institute is seeking public comment on its new IT risk framework, which is based on the globally-recognised COBIT IT governance tool set. Comments on Enterprise Risk: Identify, Govern and Manage IT Risk: The Risk IT Framework (Risk IT) will be accepted through March 13 2009 at the ITGI website.

While COBIT (Control Objectives for Information and related Technology) sets good practices for the means of risk management, Risk IT sets good practices for the ends, by providing a framework for enterprises to identify, govern and manage risk.

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Risk IT is designed for:

- Top executives and boards of directors, who need to set direction and monitor risk at the enterprise level

- Managers of IT and business departments, who need to define risk management processes

- Risk management professionals, who need specific IT risk guidance

- External stakeholders

The framework has nine business processes divided into three domains: Risk Governance, Risk Evaluation and Risk Response. It also offers management guidelines, RACI (Responsible, Accountable, Consulted and Informed) charts, maturity models and goals and metrics.

As the Risk IT initiative evolves, it will include practitioner guidance, case studies and supporting materials. Additional information is available at the ITGI website.