|
Val IT
Val IT is a governance framework that can be used to create business value from IT investments. It consists of a set of guiding principles and a number of processes and best practices that are further defined as a set of key management practices to support and help executive management and boards at an enterprise level. The latest release of the framework, published by IT Governance Institute (ITGI), based on the experience of global practitioners and academics, practices and methodologies was named ''Enterprise Value: Governance of IT Investments, The Val IT Framework 2.0''. It covers processes and key management practices for three specific domains and goes beyond new investments to include IT services, assets, other resources and principles and processes for IT portfolio management. Overview Val IT allows business managers to get business value from IT investments, by providing a governance framework that consists of * a set of guiding principles, and * a number of processes co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Responsibility Assignment Matrix
A responsibility assignment matrix (RAM), also known as RACI matrix () or linear responsibility chart (LRC), describes the participation by various roles in completing tasks or deliverables for a project or business process. RACI is an acronym derived from the four key responsibilities most typically used: ''responsible'', ''accountable'', ''consulted'', and ''informed''. It is used for clarifying and defining roles and responsibilities in cross-functional or departmental projects and processes. There are a number of alternatives to the RACI model. Key responsibility roles in RACI model Role distinction There is a distinction between a role and individually identified people: a ''role'' is a descriptor of an associated set of tasks; may be performed by many people; and one person can perform many roles. For example, an organization may have ten people who can perform the role of ''project manager'', although traditionally each project only has one project manager at any one t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Value Network Analysis
Value network analysis (VNA) is a methodology for understanding, using, visualizing, optimizing internal and external value networks and complex economic ecosystems.Biem, Alain, and Nathan Caswell. "A Value Network Model for Strategic Analysis." ''HICSS. 2008.'' The methods include visualizing sets of relationships from a dynamic whole systems perspective. Robust network analysis approaches are used for understanding value conversion of financial and non-financial assets, such as intellectual capital, into other forms of value. Allee, Verna. "Value Network Analysis and Value Conversion of Tangible and Intangible Assets." Journal of Intellectual Capital. Publisher: Emerald Insights, Year: 2008, Volume: 9, Issue: 1, Page: 5 - 24, Digital Object Identifier: The value conversion question is critical in both social exchange theory that considers the cost/benefit returns of informal exchanges and more classical views of exchange value where there is concern with conversion of value in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Value Networks
A value network is a graphical illustration of social and technical resources within/between organizations and how they are utilized. The :wikt:node, nodes in a value network represent people or, more abstractly, roles. The nodes are connected by interactions that represent deliverables. These deliverables can be objects, knowledge or money. Value networks record interdependence. They account for the worth of products and services. Companies have both internal and external value networks. Types External networks include customers/recipients, intermediaries, Stakeholder (corporate), stakeholders, complementary, open innovation networks and suppliers. Internal networks focus on key activities, processes and relationships that cut across internal boundaries, such as order fulfillment, innovation, lead processing and customer support. Value is created through exchange and the relationships between roles. Definition Clayton Christensen, Christensen defines value network as: "The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Earned Value Management
Earned value management (EVM), earned value project management, or earned value performance management (EVPM) is a project management technique for measuring project performance and progress in an objective manner. Overview Earned value management is a project management technique for measuring project performance and progress. It has the ability to combine measurements of the project management triangle: scope, time, and costs. In a single integrated system, earned value management is able to provide accurate forecasts of project performance problems, which is an important contribution for project management. Early EVM research showed that the areas of planning and control are significantly impacted by its use; and similarly, using the methodology improves both scope definition as well as the analysis of overall project performance. More recent research studies have shown that the principles of EVM are positive predictors of project success. Popularity of EVM has grown in re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
IT Governance
Information technology (IT) governance is a subset discipline of corporate governance, focused on information technology (IT) and its performance and risk management. The interest in IT governance is due to the ongoing need within organizations to focus value creation efforts on an organization's strategic objectives and to better manage the performance of those responsible for creating this value in the best interest of all stakeholders. It has evolved from The Principles of Scientific Management, Total Quality Management and ISO 9001 Quality management system. Historically, board-level executives deferred key IT decisions to the company's IT management and business leaders. Short-term goals of those responsible for managing IT can be in conflict with the best interests of other stakeholders unless proper oversight is established. IT governance systematically involves everyone: board members, executive management, staff, customers, communities, investors and regulators. A ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Value
In management, business value is an informal term that includes all forms of value that determine the health and well-being of the firm in the long run. Business value expands concept of value of the firm beyond economic value (also known as economic profit, economic value added, and shareholder value) to include other forms of value such as employee value, customer value, supplier value, channel partner value, alliance partner value, managerial value, and societal value. Many of these forms of value are not directly measured in monetary terms. Business value often embraces intangible assets not necessarily attributable to any stakeholder group. Examples include intellectual capital and a firm's business model. The balanced scorecard methodology is one of the most popular methods for measuring and managing business value. See Business valuation. Philosophy The concept of business value aligned with the theory that a firm is best viewed as a network of relationships both internal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Risk IT
Risk IT, published in 2009 by ISACA,ISACA THE RISK IT FRAMEWORK (registration required) provides an end-to-end, comprehensive view of all s related to the use of (IT) and a similarly thorough treatment of risk management, from the tone and culture at the top to operational issues. It is the result of a work group composed of industry experts and academics from different nations, from organizations such as |
Information Systems Audit And Control Association
Information is an abstract concept that refers to that which has the power to inform. At the most fundamental level information pertains to the interpretation of that which may be sensed. Any natural process that is not completely random, and any observable pattern in any medium can be said to convey some amount of information. Whereas digital signals and other data use discrete signs to convey information, other phenomena and artifacts such as analog signals, poems, pictures, music or other sounds, and currents convey information in a more continuous form. Information is not knowledge itself, but the meaning that may be derived from a representation through interpretation. Information is often processed iteratively: Data available at one step are processed into information to be interpreted and processed at the next step. For example, in written text each symbol or letter conveys information relevant to the word it is part of, each word conveys information relevant ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |