COBIT5 questions and answers 2022

COBIT5 questions and answers 2022COBIT5 Principles (5) 1. Meeting stakeholder needs 2. Covering the enterprise end-to-end 3. Applying a single integrated framework 4. Enabling a holistic process 5. Separating governance from management Categories of Enablers (7) Principles, Policies, and Frameworks Processes Organizational Structures Culture, Ethics, and Behavior Information Services, Infrastructure, and Applications People, Skills, and Competencies Value Creation (definition) Realizing benefits at an optimal resource cost while optimizing risk. Goals Cascade (4 steps) Step 1. Stakeholder drivers influence stakeholder needs Step 2. Stakeholder needs cascade to enterprise goals Step 3. Enterprise goals cascade to IT-related goals Step 4. IT-related goals cascade to enabler goals Goals / Balanced Score Card [BSC] Dimensions (4) Financial Customer Internal Learning and growth Enterprise Goals - Financial (1-5) 1. Stakeholder value of business investments 2. Portfolio of competitive products and services 3. Managed business risk (safeguarding of assets) 4. Compliance with external laws and regulations 5. Financial transparency Enterprise Goals - Customer (6-10) 6. Customer-oriented service culture 7. Business service continuity and availability 8. Agile responses to changing business environment 9. Information-based strategic decision making 10. Optimization of service delivery costs Enterprise Goals - Internal (11-15) 11. Optimization of business process functionality 12. Optimization of business process costs 13. Managed business change programs 14. Operational and staff productivity 15. Compliance with internal policies Enterprise Goals - Learning and Growth (16-17) 16. Skilled and motivated people 17. Product and business innovation culture IT Goals - Financial (1-5) 1. Alignment of IT and business strategy 2. IT compliance and support for business compliance with external laws and regulations 3. Commitment of executive management for making IT-related decisions 4. Managed IT-related business risk 5. Realized benefits from IT-related investments and services portfolio 6. Transparency of IT benefits, costs, and risks IT Goals - Customer (7-8) 7. Delivery of IT services in line with business requirements 8. Adequate use of applications, information, and technology solutions IT Goals - Internal (9-15) 9. IT agility 10. Security of information, processing infrastructure, and applications 11. Optimization of IT assets, resources, and capabilities 12. Enablement and support of business processes by integrating applications and technology into business processes 13. Delivery of programmes delivering benefits, on time, on budget, and meeting requirements and quality standards 14. Availability of reliable and useful information for decision making 15. IT compliance with internal policies IT Goals - Learning and Growth (16-17) 16. Competent and motivated business and IT personnel 17. Knowledge, expertise, and initiatives for business innovation Key Components of Governance Approach (4) Governance Objective: Value Creation Governance Enablers Governance Scope Roles, Activities, and Relationships Enabler Dimensions (4) Stakeholders Goals Life Cycle Good Practices Enabler Dimension - Stakeholders (2) Internal stakeholders External stakeholders Enabler Dimension - Goals (3) Intrinsic quality Contextual quality Accessibility and security Enabler Dimension - Life Cycle (6) Plan Design Build/acquire/create/implement Use/operate Evaluate/monitor Update/dispose Enabler Performance Management Questions (4) Are stakeholder needs addressed? Are enabler goals achieved? Is the enabler life cycle managed? Are good practices applied? Governance Definition Governance ensures that stakeholder needs, conditions and options are evaluated to determine balanced, agreed-on enterprise objectives to be achieved; setting direction through prioritisation and decision making; and monitoring performance and compliance against agreed-on direction and objectives. Management Definition Management plans, builds, runs and monitors activities in alignment with the direction set by the governance body to achieve the enterprise objectives. Governance Practices (3) Evaluate, Direct, and Monitor (EDM) Management Domains (4) Align, Plan, and Organize (APO) Build, Acquire, and Implement (BAI) Deliver, Service, and Support (DSS) Monitor, Evaluate, and Assess (MEA) The Seven Phases of the Implementation Life Cycle 1) What are the drivers? 2) Where are we now? 3) Where do we want to be? 4) What needs to be done? 5) How do we get there? 6) Did we get there? 7) How do we keep the momentum going? Implementation Life Cycle Rings (3) Inner: Continuous improvement life cycle Middle: Change enablement Outer: Program Management The Seven Phases of the Implementation Life Cycle - Continuous improvement 1) Recognize the need to act 2) Assess current state 3) Define target state 4) Build improvements 5) Implement improvements 6) Operate and measure 7) Monitor and evaluate The Seven Phases of the Implementation Life Cycle - Change enablement 1) Establish the desire to change 2) Form implementation team 3) Communicate outcome 4) Identify role players 5) Operate and Use 6) Enable new approaches 7) Sustain The Seven Phases of the Implementation Life Cycle - Program Management 1) Initiate program 2) Define the problems and opportunities 3) Where do we want to be? 4) Plan program 5) Execute plan 6) Realize benefits 7) Review effectiveness Which process area: Ensure governance framework setting and maintenance Evaluate, Direct and Monitor (EDM) Which process area: Ensure benefits delivery Evaluate, Direct and Monitor (EDM) Which process area: Ensure risk optimization Evaluate, Direct and Monitor (EDM) Which process area: Ensure resource optimization Evaluate, Direct and Monitor (EDM)