I have come to Mongolia to provide training on COBIT5 Foundation and Implementation. I do trainings, coaching and consulting in COBIT5 Foundation, Implementation and Assessment, and on other frameworks and methodologies relevant to COBIT5, including Project Management, Enterprise Architecture, Service Management, Software Engineering etc.

I understand that the Bank of Mongolia has given a mandate to implement COBIT in all banks and financial organizations. I believe it is a right step in the right direction because COBIT5 is a powerful tool used worldwide to implement a strong framework for governance of enterprise IT.

I like to take this opportunity to provide more information on implementing COBIT5:  It is important to understand that COBIT5 is a business framework for both Governance and Management of enterprise IT, which focuses on ‘Value Creation’ by addressing three key stakeholder requirements – Benefits Realization, Risk Optimization and Resource Optimization.

I will also advice organizations implementing COBIT5, to take it as an opportunity to gain more from this initiative by implementing or strengthening other relevant and underpinning frameworks and standards in different IT domains, like – portfolio, program & project management using PMBOK or PRINCE2, Enterprise Architecture using TOGAF, IT Service Management using ITIL, Software Engineering using CMMi, Agile and DevOps.  You can take this opportunity also to standardize the use of practices & processes across your organizational departments and functions.

Enterprise Governance has become a key mandatory requirement for executive management and the board, and IT Governance is one of the key components. The reason is – IT has become pervasive across enterprise functions and will continue to be more pervasive with evolving technologies like Internet of Things, Blockchain, Artificial Intelligence, Virtual Reality etc.

The board and the executive management will like to have a common umbrella framework and a single view at all components of IT Governance, and this can be achieved by implementing COBIT5. You can further use COBIT5 for continuous improvement and assurance of IT Governance.

Empasoft can help you in designing and implementing those processes internally in your organization. If you need further information on consulting, coaching or training services related to COBIT and other related frameworks, methodologies and practices, I will be more than happy to answer your questions at my email tdprasad@empasoft.com

Thank you