Val IT is a governance framework that can be used to create business value from IT investments. It consists of a set of guiding principles and a number of processes and best practices that are further defined as a set of key management practices to support and help executive management and boards at an enterprise level. The latest release of the framework, published by IT Governance Institute (ITGI), based on the experience of global practitioners and academics, practices and methodologies was named <i>Enterprise Value: Governance of IT Investments, The Val IT Framework 2.0</i>. It covers processes and key management practices for three specific domains and goes beyond new investments to include IT services, assets, other resources and principles and processes for IT portfolio management.
Val IT allows business managers to get business value from IT investments, by providing a governance framework that consists of
a set of guiding principles, and
a number of processes conforming to those principles that are further defined as a set of key management practices.
The major domains are:
Value Governance (VG prefix)
Portfolio Management (PM prefix)
Investment Management (IM prefix)
Currently (as of 2006) a relatively short body of work, it will evolve and expand over time, with documents available for download via the at ISACA, and include:
the framework itself;
a template/guide to using Val IT when developing a business case;