The secrets behind an effective Corporate Plan..

To have an effective Corporate Plan an organization relies on three key elements to assist in achieving its strategic objectives; the people, the IT system and finance. 

• People: It is integral that the people involved in an organization are educated in and support the Corporate Plan and the policies and procedures that underpin it.
• IT System: The implementation of IT objectives that are aligned with business strategy and facilitated by necessary controls is integral for the security of information
• Finance: It is important that organizations have the financing to put in place proper governance, controls and employ qualified workers to support the organization in achieving strategic objectives.    

One example of where all three of these key elements were not working effectively is the Queensland Health debacle. The IT systems failed firstly with the payroll system, which caused a general feeling of disillusionment amongst employees. Then based on already poor morale and lack of IT controls present the ‘Tahitian Prince’ took advantage and siphoned millions from the organization.  

For more on the Queensland Health Debacle

The overall cause, however, of these events was the organization’s lack of IT governance, such as the COBIT framework.  The implementation of such a framework is integral to the success of an organization.  Whilst COBIT may not be practical for every business, it is a starting point for organizations.