CIO Straight Talk - Issue 7 - 76
76
the board and have them review it.
board meeting comes and goes, the
You need a good relationship with
process gets better and better.
the board members and corporate
The key selling point of the
leaders for this to work. You must
balanced scorecard system-its
sell the concept to them. It's critical
transparency-means that IT has
to talk to them about it privately
nowhere to hide anymore. That's
and see if it resonates. That buy-
clearly a benefit for the board, but it
in is critical. Here, we went to the
can be difficult for the IT group.
audit and risk committee of the
Consequently, I make sure that
board to give us initial guidance. A
we, as an executive team, do make
standard approach won't work for
time to celebrate the successes.
every firm. You have to customize it
That's critical in motivating my
to your culture, run a few pilots, and
team to continue to delivering a
continue to refine it over time. Some
steady stream of greens on the red-
of our metrics are solidly in place,
amber-green color spectrum of this
while others are evolving. As each
transparent performance scorecard.
With a scorecard
devised to meet the
King III requirements,
we can quickly and
clearly show the board
how we're doing
against the seven
key issues.
The Takeaways
* In South Africa, regulations for publicly traded companies mandate that the Board of Directors is responsible for
oversight of the IT function, given its importance to the business. Consequently, IT generally has become the most
audited business function, subjecting it to formal scrutiny not commonly found elsewhere.
* A balanced scorecard, prepared by the CIO and using the red-amber-green mechanism, can help boards monitor
and assess IT's performance in areas ranging from network security to capital investments.
* The balanced scorecard tool, tailored to a particular company's situation or business environment, may prove
useful to CIOs in other countries, even if they don't face the scrutiny from regulators that IT does in South Africa.
CIO Straight Talk - Issue 7
Table of Contents for the Digital Edition of CIO Straight Talk - Issue 7
Contents
CIO Straight Talk - Issue 7 - Cover1
CIO Straight Talk - Issue 7 - Contents
CIO Straight Talk - Issue 7 - 1
CIO Straight Talk - Issue 7 - 2
CIO Straight Talk - Issue 7 - 3
CIO Straight Talk - Issue 7 - 4
CIO Straight Talk - Issue 7 - 5
CIO Straight Talk - Issue 7 - 6
CIO Straight Talk - Issue 7 - 7
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CIO Straight Talk - Issue 7 - 9
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CIO Straight Talk - Issue 7 - Cover3
CIO Straight Talk - Issue 7 - Cover4
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