Keep IT Governance Simple, Experts Say

The simplest tools of corporate governance can often be the best, say IT experts. In fact, looking to the past - and using simple charts on paper - could be the best way to get your company into the future.

According to an article by Charlie Russo on the SearchCIO.com website, online brokerage firm Ameritrade Holding Corp. has found that a simple chart on a single piece of paper is one if its most effective governance tools. The company's IT department shares the chart with other corporate departments, as well as with outside business partners as a way of building trust, according to Ameritrade's senior vice president of application development Jerry Bartlett.

Russo says Bartlett made the remarks at a conference on reducing risk and creating a leadership role for IT. Russo loosely defines governance as "daily business processes through which business goals are set, managed and monitored," and he says it can be a sensitive issue that affects both productivity and costs.

Bartlett also told conference attendees that having a short list of clear priorities is the key to helping companies decide how, when and where they need to invest resources. Twice a year, Ameritrade's CEO, Joseph H. Moglia, "sits down with IT executives to plan the next six months worth of technology initiatives," Russo says. "Together, they prioritize projects, allot money for discretionary development and adjust the overall budget."

To read the full article, click here: http://searchcio.techtarget.com/originalContent/0,289142,sid19_gci1100890,00.html