In implementing an effective governance structure, organizations, particularly those having significant IT investments, are constrained by certain factors. Common among such inhibiting factors are challenges in aligning the business and IT strategies, need for appropriate and re-engineered business processes and delivery models, lack of project ownership and insufficient risk and resource management.
For ensuring better governance there is a need to put in place robust risk management systems encompassing effective infrastructure, information and security policies, incident reporting and business continuity management. These management systems must be subject to regular review and monitoring. Relevance to banks 8.