Select And Research One Of The Standards Discussed In Chapte

Select And Research One Of The Standards Discussed In Chapter 6

Select and research one of the standards discussed in Chapter 6. Briefly address how this standard could be used to establish an Information Governance program within an organization (perhaps at the organization in which you work). In chapter seven (7), we have learned from "The Path to Information Value" that seventy percent of managers and executives say data are “extremely important” for creating competitive advantage. In addition, it is implied by the authors that, “The key, of course, is knowing which data matter, who within a company needs them, and finding ways to get that data into users’ hands.” Looking at the Economist Intelligence Unit report, identify the three (3) phases that led to the Brooklyn Navy Yard's rebirth.

Paper For Above instruction

Introduction

Effective information governance (IG) is essential for organizations aiming to leverage data for strategic advantage, ensure compliance, and improve operational efficiency. Selecting an appropriate standard to guide the development of an IG program is critical. In Chapter 6 of the referenced material, the focus is on various standards that support IG frameworks, such as ISO 38500, the COBIT framework, and the Data Management Body of Knowledge (DMBOK). For this paper, I will focus on COBIT (Control Objectives for Information and Related Technologies) as the foundational standard. COBIT provides comprehensive guidance for aligning IT governance with organizational goals, making it a valuable tool for establishing robust information governance within organizations.

Understanding COBIT and Its Application in Information Governance

COBIT, developed by ISACA, is a widely accepted framework for IT governance and management. It offers a set of best practices, tools, and models that help organizations align their IT objectives with overall business goals. COBIT’s structure encompasses domains such as governance, management, and control processes, each of which can be tailored to create a customized IG program. Its nearly universal acceptance across industries makes it a practical and credible standard for organizations seeking to implement formalized governance structures.

Implementing COBIT within an organization contributes significantly to establishing an effective IG program by providing clear definitions of responsibilities, control objectives, and measurement tools. For example, COBIT’s focus on risk management and compliance ensures that data handling, security, and privacy policies are embedded into daily operations. By adopting COBIT standards, organizations can create transparent processes for data stewardship, establish accountability, and ensure consistent data quality and security—core principles of any robust IG program (ISACA, 2012).

How COBIT Supports the Establishment of an Information Governance Program

Using COBIT, an organization can systematically develop an IG program across several dimensions. First, it promotes the creation of a governance framework that defines stakeholder roles, responsibilities, and decision-making processes concerning data management. Second, it emphasizes the importance of aligning data policies with regulatory requirements and industry best practices, which helps mitigate legal and operational risks (De Haes & Van Grembergen, 2009).

Furthermore, COBIT’s maturity models enable organizations to assess their current data management capabilities and identify gaps. This assessment guides targeted improvements in data quality, security, and availability—fundamental aspects of effective IG. Additionally, COBIT facilitates continuous monitoring and performance measurement, ensuring that the IG program remains aligned with organizational objectives and adapts to evolving technological and regulatory landscapes (ISACA, 2012).

The Relevance of Data in Competitive Advantage

In Chapter 7, the authors highlight that 70% of managers and executives consider data extremely important for creating competitive advantage. The key lies in identifying which data matter, understanding who needs the data, and ensuring timely access. This aligns with the foundational concepts of COBIT, which emphasizes governance clarity and strategic data management. An effective IG program underpinned by standards like COBIT enables organizations to prioritize valuable data, enhance data quality, and facilitate data-driven decision-making—critical elements for maintaining competitiveness.

The Brooklyn Navy Yard Rebirth: Three Phases

According to the Economist Intelligence Unit report, the rebirth of the Brooklyn Navy Yard involved three key phases:

  1. Strategic Redevelopment Planning: This initial phase focused on developing a comprehensive strategic plan to transition from a military installation to a modern industrial complex. It involved stakeholder engagement, vision setting, and the establishment of redevelopment goals aligned with economic growth and sustainability.
  2. Investment and Infrastructure Development: The second phase centered on attracting investments, upgrading infrastructure, and creating a business-friendly environment. This included refurbishing docks, establishing modern manufacturing facilities, and providing essential services to tenants and businesses.
  3. Operational Optimization and Incentivization: The final phase involved streamlining operations, offering tax incentives, and cultivating partnerships with government, business, and community stakeholders. These efforts fostered a thriving ecosystem that supports innovation, job creation, and sustainable development.

This phased approach was crucial to transforming the Brooklyn Navy Yard into a vibrant hub for manufacturing, technology, and innovation, thus illustrating how deliberate, phased strategies can catalyze urban regeneration.

Conclusion

Selecting the COBIT framework as a standard to establish an information governance program provides organizations with a structured, comprehensive approach to managing data assets effectively. Leveraging COBIT’s principles ensures alignment with organizational strategy, legal compliance, and operational efficiency. Coupling this approach with an understanding of how data underpins competitive advantage, as emphasized in Chapter 7, underscores the importance of disciplined, strategic data management. The Brooklyn Navy Yard’s phased rebirth exemplifies the power of planned development, a principle applicable to implementing effective IG programs that foster organizational growth and resilience.

References

  • De Haes, S., & Van Grembergen, W. (2009). An exploratory study into IT governance implementations and its impact on business/IT alignment. Information Systems Management, 26(2), 123-138.
  • ISACA. (2012). COBIT 5: A Business Framework for the Governance and Management of Enterprise IT. ISACA.
  • Olson, J. E., & Wu, J. (2020). Data governance and compliance: Strategies for success. Journal of Data Management, 15(3), 45-62.
  • Rouse, M. (2015). COBIT (Control Objectives for Information and Related Technologies). TechTarget.
  • Weill, P., & Ross, J. W. (2004). IT Governance: How Top Performers Manage IT Decision Rights for Superior Results. Harvard Business School Press.
  • OECD. (2018). Data-Driven Innovation: Big Data for Growth and Well-Being. Organisation for Economic Co-operation and Development.
  • Economist Intelligence Unit. (2019). The Brooklyn Navy Yard: From military base to manufacturing hub. Economist.
  • Leach, M. (2016). Urban renewal strategies: Case studies from New York and beyond. Journal of Urban Planning, 31(4), 278-295.
  • Schmidt, R., & Bannenberg, K. (2017). Implementing Data Governance Frameworks: Challenges and best practices. International Journal of Information Management, 37, 147-157.
  • Weinberger, S. (2019). Strategic urban development and industrial parks: The Brooklyn Navy Yard. Urban Studies, 56(12), 2501-2517.

Related Assignments