This article provides an overview and summary of the COBIT 5 process Manage Innovation, which is part of the Management – Plan (Align, Plan and Organise) domain.
The purpose of this COBIT 5 process is to maintain an awareness of IT trends, identify innovation opportunities to bring benefits to the organisation. This is where IT supports the organisation achieve competitive advantage through innovation and improved operational effectiveness by ensuring:
- Organisation value is created through advances and innovations in IT methods and solutions.
- Organisation and IT objectives are met with improved quality benefits and/or reduced cost as a result of innovative solutions.
- Innovation is promoted through conducive culture.
The following sub-governance processes are further supported by a list of control activities:
- Create an environment conducive to innovation. Emphasis on culture, reward, collaboration, technology forums, and promotion of new ideas.
- Maintain an understanding of the enterprise environment. Work with relevant stakeholders to understand their challenges and seek solutions.
- Monitor and scan the technology environment. Monitor external environment to identify emerging technologies can create organisation value.
- Assess the potential of emerging technologies and innovation ideas. Analyse identified emerging technologies and/or other IT innovations.
- Recommend appropriate further initiatives. Monitor the results of proof-of-concept initiatives and push implementation if results are positive.
- Monitor the implementation and use of innovation. Monitor the implementation and use of emerging technologies and innovations and their impact/challenges.
For more information please contact Morland-Austin at info@morland-austin.com.