Gov System Principles

Question 1

1 Provide stakeholders value

Answer 1

Creates value for the company’s stakeholders by balancing benefits, risk, and resources.

Question 2

2 Holistic Approach

Answer 2

Provides diverse components, and a holistic model(Which is a combination of all things taken into account not just one specific thing.

Question 3

3 Dynamic Governance System

Answer 3

when a change in the system occurs, the impact on all other systems needs to be considered to ensure it still runs smoothly. (To have a dynamic enough system that it is still able to continue operating effectively even when new changes arise)

Question 4

4 Governance distinct from management

Answer 4

Management and Gov activities need to be distinct from each other since they have different functions.

Question 5

5 Tailored to Enterprise Needs

Answer 5

The model needs to be customized to each company, every company is different so the model needs to be customised to meet their individual needs

Question 6

6 End to End Governance System

Answer 6

Not just IT functions should be taken into consideration. All processes in the organization involving information and technology should be factored into an end to end approach

Question 7

What are the three principles of a Gov framework

Answer 7

Based on the Conceptual Model: It should contain key components as well as the relationships between those components to provide for greater automation and to maximize consistency

Open and flexible: Frameworks should have the ability to change, adding relevant content and removing irrelevant content, while keeping consistency and integrity.

Aligned to major standards: Frameworks should align with regulations, frameworks, and standards.