VAL IT (value from IT investments) is a framework that outlines governance best practices for information technology-enabled business investments.
VAL IT was developed by ISACA, an independent, nonprofit, global association that engages in the development, adoption and use of globally accepted information system (IS) knowledge and practices. The goals of the Val IT framework are to help organizations define the relationship between IT and business, guide IT investments and manage investment portfolios for IT-enabled business.
Val IT is based on seven principles:
- IT-enabled investments will be managed as a portfolio of investments.
- IT-enabled investments will include the full scope of activities that are required to achieve business value.
- IT-enabled investments will be managed through their full economic life cycle.
- Value delivery practices will recognize that there are different categories of investments that will be evaluated and managed differently.
- Value delivery practices will define and monitor key metrics and will respond quickly to any changes or deviations.
- Value delivery practices will engage all stakeholders and assign appropriate accountability for the delivery of capabilities and the realization of business benefits.
- Value delivery practices will be continually monitored, evaluated and improved.
Val IT is based on the Control Objectives for Information and related Technology (COBIT) from ISACA's IT Governance Institute. COBIT provides a comprehensive framework for the development, implementation, monitoring and improvement of information technology governance and management practices. Val IT "complements COBIT from a business and financial perspective," and adds best practices that help measure, monitor and maximize business value stemming from IT investments, according to ISACA.
Val IT addresses assumptions, costs, risks and outcomes related to IT-enabled business investments. It also provides benchmarking capability and allows enterprises to exchange IT value management best practices.
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