ISO 38500 is a newly released international standard for the discipline of IT Goverance.
ISO 38500 is based on the Australian Standard (AS8015) and follows the same basic principles that are defined.
The six basic building blocks for IT Governance, as defined by ISO 38500 are:
Define and implement clear responsibilities for ICT (requiring role clarity to avoid dupliation of efforts)
Ensure ICT strategy mathes and integrates with the business (requiring a close working relationship between IT and the business)
ICT to acquired sensibly (requiring financial analysis of requirements to ensure proper return on investment in line with business needs)
Ensure ICT has adequate performance and availability (understanding that services running on ICT must perform and be available according to defined and agreed levels)
Ensure ICT compliance with policies and law (from a comlpliance perspective this element of following ethical, moral and legal guidelines is critical)
Drive the human side of ICT (a recognition that people are the critical piece of the puzzle)