Val IT Framework - Revision history

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 == What is Val IT Framework? ==
-'''VAL IT''' (Value from IT investments) is a framework for the governance of information technology-enabled business investments. Val IT is a framework for managing and optimizing the value of information technology (IT) investments. It is designed to help organizations understand the value that they can expect to receive from their IT investments and to identify opportunities to improve the value of those investments over time. VAL IT Framework has been developed by the [[Information Systems Audit and Control Association (ISACA)|IT Governance Institute (ISACA)]].
+'''VAL IT''' (Value from IT investments) is a [[IT Governance Framework|framework for the governance of information technology]]-enabled business investments. Val IT is a framework for managing and optimizing the value of information technology (IT) investments. It is designed to help organizations understand the value that they can expect to receive from their IT investments and to identify opportunities to improve the value of those investments over time. VAL IT Framework has been developed by the [[Information Systems Audit and Control Association (ISACA)|IT Governance Institute (ISACA)]].
 The Val IT framework consists of three main components: value governance, value delivery, and value realization.

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 == What is Val IT Framework? ==
-'''VAL IT''' (Value from IT investments) is a framework for the governance of information technology-enabled business investments. Val IT is a framework for managing and optimizing the value of information technology (IT) investments. It is designed to help organizations understand the value that they can expect to receive from their IT investments and to identify opportunities to improve the value of those investments over time. VAL IT Framework has been developed by the IT Governance Institute (ISACA).
+'''VAL IT''' (Value from IT investments) is a framework for the governance of information technology-enabled business investments. Val IT is a framework for managing and optimizing the value of information technology (IT) investments. It is designed to help organizations understand the value that they can expect to receive from their IT investments and to identify opportunities to improve the value of those investments over time. VAL IT Framework has been developed by the [[Information Systems Audit and Control Association (ISACA)|IT Governance Institute (ISACA)]].
 The Val IT framework consists of three main components: value governance, value delivery, and value realization.

← Older revision		Revision as of 10:36, 1 July 2023
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	== See Also ==		== See Also ==
−	*[[IT Investment (Information Technology Investment)]]	+	*[[IT Governance]]
		+	*[[IT Investment (Information Technology Investment)\|IT Investment]]

@@ Line 95: / Line 95: @@
 == Val IT and COBIT ==
-*Val IT is closely aligned with and complements COBIT. Val IT focuses on the investment decision (are we doing the right things?) and the realization of benefits (are we getting the benefits?), while COBIT focuses on the execution (are we doing them the right way, and are we getting them done well?)
+*Val IT is closely aligned with and complements the [[COBIT (Control Objectives for Information and Related Technology)|COBIT Framework]]. Val IT focuses on the investment decision (are we doing the right things?) and the realization of benefits (are we getting the benefits?), while COBIT focuses on the execution (are we doing them the right way, and are we getting them done well?)
 *Val IT helps enterprises make better decisions about where to invest, ensuring that the investment is consistent with the business strategy
 COBIT ensures that IT is working as effectively as possible to maximize the benefits of technology investment
@@ Line 101: / Line 101: @@
 == See Also ==
-[[IT Investment (Information Technology Investment)]]
+*[[IT Investment (Information Technology Investment)]]

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-== VAL IT Framework Current Version'''<ref>[https://www.isaca.org/Knowledge-Center/Val-IT-IT-Value-Delivery-/Documents/Val-IT-Brochure.pdf Value of IT (Val IT) Current Version]</ref><br />
+== VAL IT Framework Current Version'''<ref>[https://www.isaca.org/Knowledge-Center/Val-IT-IT-Value-Delivery-/Documents/Val-IT-Brochure.pdf Value of IT (Val IT) Current Version]</ref> ==
 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.
@@ Line 68: / Line 68: @@
 Val IT has the following major processes for its three major domains. Each of these processes has a RACI (responsibility assignment) matrix, indicating the responsibilities of the senior executives, business managers, and information managers, along with the major and minor COBIT control objectives associated with the activity.
 #Value Governance
-#*VG1: Establish informed and committed [[leadership]].
+#*VG1: Establish informed and committed leadership.
 #*VG2: Define and implement processes.
 #*VG3: Define portfolio characteristics.
@@ Line 75: / Line 75: @@
 #*VG6: Continuously improve value management practices.
 #Portfolio Management
-##*PM1: Establish strategic direction and target investment mix.
+#*PM1: Establish strategic direction and target investment mix.
-*PM2: Determine the availability and sources of funds.
+#*PM2: Determine the availability and sources of funds.
 #*PM3: Manage the availability of human resources.
 #*PM4: Evaluate and select programs to fund.

← Older revision		Revision as of 19:07, 4 January 2023
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	*[https://www.isaca.org/Knowledge-Center/Val-IT-IT-Value-Delivery-/Documents/Val-IT-Framework-2.0-Extract-Jul-2008.pdf Enterprise Value: Governance of IT Investments, The Val IT Framework 2.0 Extract]		*[https://www.isaca.org/Knowledge-Center/Val-IT-IT-Value-Delivery-/Documents/Val-IT-Framework-2.0-Extract-Jul-2008.pdf Enterprise Value: Governance of IT Investments, The Val IT Framework 2.0 Extract]
	*[http://www.isaca.org/knowledge-center/val-it-it-value-delivery-/pages/val-it-faq.aspx Val IT FAQ]		*[http://www.isaca.org/knowledge-center/val-it-it-value-delivery-/pages/val-it-faq.aspx Val IT FAQ]
		+	__NOTOC__

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-'''VAL IT''' ([[value]] from IT investments) is a [[framework]] for the [[governance]] of information technology enabled [[business]] investments. VAL IT Framework has been developed by the [[IT Governance]] Institute (ISACA).
+'''VAL IT''' (Value from IT investments) is a framework for the [[governance]] of information technology enabled business investments. VAL IT Framework has been developed by the [[IT Governance]] Institute (ISACA).
-The Val IT framework is a comprehensive and pragmatic organising framework that enables the creation of business value from IT-enabled investments. Designed to align with and complement COBIT, Val IT integrates a set of practical and proven governance principles, processes, practices and supporting guidelines that help boards, executive [[management]] teams and other enterprise leaders optimise the realisation of value from IT investments. Val IT provides direct support to executives at all management levels across both business and IT organisations—from the CEO and other leaders within the C-suite, to managers and administrators directly involved in the [[selection]], [[procurement]], development, implementation, deployment and benefits realisation processes.
+The Val IT framework is a comprehensive and pragmatic organizing framework that enables the creation of business value from IT-enabled investments. Designed to align with and complement COBIT, Val IT integrates a set of practical and proven governance principles, processes, practices and supporting guidelines that help boards, executive management teams and other enterprise leaders optimize the realization of value from IT investments. Val IT provides direct support to executives at all management levels across both business and IT organizations—from the CEO and other leaders within the C-suite, to managers and administrators directly involved in the selection, procurement, development, implementation, deployment and benefits realization processes.
-Used with considerable success by leading organisations for many years, the proven processes and practices within Val IT are presented—for the first time ever—as one single integrated
+Used with considerable success by leading organizations for many years, the proven processes and practices within Val IT are presented—for the first time ever—as one single integrated
 governance framework that provides business and IT decision makers with a comprehensive, consistent, and coherent approach to creating concrete and measurable business value.<ref>What is the Val IT Framework? [https://www.isaca.org/Knowledge-Center/Val-IT-IT-Value-Delivery-/Documents/Val-IT-Framework-2.0-Extract-Jul-2008.pdf ITGI]</ref>
-The [[objective]] of Val IT Framework is to maximize the business value created from IT investments in an enterprise using governance best practices. Toward that end, it defines three major domains, seven guiding principles, a set of processes, and management practices to support and help executive management and boards at an enterprise level in making better decisions about IT investments.
+The objective of Val IT Framework is to maximize the business value created from IT investments in an enterprise using governance best practices. Toward that end, it defines three major domains, seven guiding principles, a set of processes, and management practices to support and help executive management and boards at an enterprise level in making better decisions about IT investments.
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 '''VAL IT Framework Current Version'''<ref>Value of IT (Val IT) Current Version [https://www.isaca.org/Knowledge-Center/Val-IT-IT-Value-Delivery-/Documents/Val-IT-Brochure.pdf isaca.0rg]</ref><br />
-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.
+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 (ITPM)|IT portfolio management]].
@@ Line 30: / Line 30: @@
 *IT-enabled investments will be managed through their full economic life cycle.
 *Value delivery practices will recognize that there are different categories of investments that will be evaluated and managed differently.
-*Value delivery practices will define and monitor key [[metrics]] and will respond quickly to any changes or deviations.
+*Value delivery practices will define and monitor key metrics and will respond quickly to any changes or deviations.
 *Value delivery practices will engage all stakeholders and assign appropriate accountability for the delivery of capabilities and the realization of business benefits.
 *Value delivery practices will be continually monitored, evaluated and improved..
@@ Line 40: / Line 40: @@
 '''The Goal of Val IT'''<ref>The Goal of Val IT [https://www.isaca.org/Knowledge-Center/Val-IT-IT-Value-Delivery-/Documents/VAL-IT-business-case.pdf ITGI]</ref><br />
-The goal of the Val IT initiative, which includes research, publications and supporting services, is to help management ensure that organisations realize optimal value from IT-enabled business investments at an affordable cost with a known and acceptable level of [[risk]]. Val IT provides guidelines, processes and supporting practices to assist the board and executive management in understanding and carrying out their roles related to such investments. While applicable to all investment decisions, Val IT is primarily targeted at IT-enabled business investments: significant business investments in sustaining, growing or transforming the business with a critical IT component, where IT is a means to an end—the end being to contribute to the [[process]] of value creation in the enterprise. The end and the means are represented by the ‘Four Ares’ as illustrated in the figure below
+The goal of the Val IT initiative, which includes research, publications and supporting services, is to help management ensure that organizations realize optimal value from IT-enabled business investments at an affordable cost with a known and acceptable level of [[risk]]. Val IT provides guidelines, processes and supporting practices to assist the board and executive management in understanding and carrying out their roles related to such investments. While applicable to all investment decisions, Val IT is primarily targeted at IT-enabled business investments: significant business investments in sustaining, growing or transforming the business with a critical IT component, where IT is a means to an end—the end being to contribute to the process of value creation in the enterprise. The end and the means are represented by the ‘Four Ares’ as illustrated in the figure below
@@ Line 47: / Line 47: @@
 *Assists the board and executive management in understanding and carrying out their roles related to IT-enabled business investment
 *Helps enterprises make better decisions on where to invest in business change
-*Provides a common language for executives, business management and IT professionals to ensure IT-related investments are in line with business [[strategy]]
+*Provides a common language for executives, business management and IT professionals to ensure IT-related investments are in line with [[Business Strategy|business strategy]]
@@ Line 60: / Line 60: @@
 '''Val IT Major Processes'''<br />
-Val IT has the following major processes for its three major domains. Each of these processes has a RACI (responsibility assignment) matrix, indicating the responsibilities of the senior executives, business managers, and information managers, along with the major and minor COBIT [[control]] objectives associated with the activity.
+Val IT has the following major processes for its three major domains. Each of these processes has a RACI (responsibility assignment) matrix, indicating the responsibilities of the senior executives, business managers, and information managers, along with the major and minor COBIT control objectives associated with the activity.
 . Value Governance
@@ Line 70: / Line 70: @@
 *VG6: Continuously improve value management practices.
-. [[Portfolio Management]]
+. Portfolio Management
-*PM1: Establish strategic direction and [[target]] investment mix.
+*PM1: Establish strategic direction and target investment mix.
 *PM2: Determine the availability and sources of funds.
 *PM3: Manage the availability of human resources.
@@ Line 87: / Line 87: @@
 *IM7: Update operational IT portfolios.
 *IM8: Update the business case.
-*IM9: Monitor and report on the programm
+*IM9: Monitor and report on the program
 *IM10: Retire the program
@@ Line 98: / Line 98: @@
 ===See Also===
-[[IT_Governance|IT Governance]]<br />
+[[IT Governance]]<br />
-[[IT_Governance_Framework|IT Governance Framework]]<br />
+[[IT Governance Framework]]<br />
-[[ICT_Investment_Framework|ICT Investment Framework]]<br />
+[[ICT Investment Framework]]<br />
-[[IT_Investment_Management_Framework_(ITIM)|Information Technology Investment Management (ITIM)]]<br />
+[[Information Technology Investment Management (ITIM)]]<br />
-[[COBIT_(Control_Objectives_for_Information_and_Related_Technology)|Control Objectives for Information and Related Technology (COBIT)]]<br />
+[[COBIT_(Control_Objectives_for_Information_and_Related_Technology)|COBIT]]<br />
 [[ITIL_(Information_Technology_Infrastructure_Library)|ITIL]]<br />
 [[Risk_IT_Framework|Risk IT]]<br />

← Older revision		Revision as of 20:31, 27 May 2020
Line 1:		Line 1:
−	VAL IT (value from IT investments) is a framework for the governance of information technology enabled business investments. VAL IT Framework has been developed by the IT Governance Institute (ISACA).	+	'''VAL IT''' (value from IT investments) is a framework for the governance of information technology enabled business investments. VAL IT Framework has been developed by the IT Governance Institute (ISACA).