IT Governance and Value Management Quiz

What is the primary purpose of Service Level Management (SLM)?

• To draft legal contracts

• To monitor financial investments

• To enforce compliance regulations

• To clarify service expectations and responsibilities

Which organization promotes ITIL best practices and ISO 20000 standards?

• COBIT

• itSMF

• Open Compliance and Ethics Group

• IT Governance Institute

What does the OCEG's GRC capability model emphasize?

• Technical efficiency

• Principled Performance

• Legal compliance only

• Cost reduction

What is a significant challenge enterprises face regarding IT investments?

• Overinvestment in hardware

• Lack of transparency in IT spending

• Excessive regulatory compliance

• Too many IT staff

How does Val IT help enterprises manage IT investments?

• By focusing solely on cost reduction

• By providing a framework to measure and optimize business value

• By standardizing IT contracts

• By eliminating the need for governance

What is one of the key elements of the OCEG GRC capability model?

• External Business Context

• IT Service Management

• Financial Auditing

• Technical Support

Which of the following is a principle of the Val IT framework?

• Limiting IT governance

• Managing IT investments as a portfolio

• Focusing only on short-term gains

• Avoiding stakeholder engagement

What is the focus of the 'Red Book' published by OCEG?

• ITIL best practices

• IT project management

• GRC capability model

• IT service contracts

What is a common issue that leads to questioning IT value in enterprises?

• Strong collaboration between IT and business

• Excessive investment in training

• Focus on managing IT costs rather than value

• High levels of IT staff engagement

How can enterprises ensure continuous improvement in their IT value management practices?

• By ignoring past failures

• By implementing a rigid governance structure

• By engaging all stakeholders for accountability and benefit realization

• By reducing the number of IT projects