Information Technology Infrastructure Library (ITIL)

ITIL is a widely accepted approach to IT Service Management (ITSM), which has been adopted by individuals and organizations across the world. ITIL provides a cohesive set of best practice, drawn from the public and private sectors internationally.

Because ITSM is driven both by technology and the huge range of organizational environments in which it operates, it is constantly evolving.

Control Objectives for Information and Related Technology (COBIT)

COBIT  is a framework for developing, implementing, monitoring and improving information technology (IT) governance and management practices.

The COBIT framework is published by the IT Governance Institute and the Information Systems Audit and Control Association (ISACA). The goal of the framework is to provide a common language for business executives to communicate with each other about goals, objectives and results. The original version, published in 1996, focused largely on auditing. The latest version, published in 2013, emphasizes the value that information governance can provide to a business’ success. It also provides quite a bit of advice about enterprise risk management.

The name COBIT originally stood for “Control Objectives for Information and Related Technology,” but the spelled-out version of the name was dropped in favor of the acronym in the fifth iteration of the framework.

COBIT 5 is based on five key principles for governance and management of enterprise IT :

Principle 1: Meeting Stakeholder Needs

Principle 2: Covering the Enterprise End-to-End

Principle 3: Applying a Single, Integrated Framework

Principle 4: Enabling a Holistic Approach

Principle 5: Separating Governance From Management