The Capability Maturity Model Integration (CMMI) is a world-class performance improvement framework for competitive organizations that want to achieve high-performance operations.Today, CMMI has become the de facto standard for information and communications technology (ICT) companies to improve operational efficiencies.
CMMI for Development(CMMI-DEV) consists of best practices that address development activities applied to products and services. It addresses practices that cover the product’s life cycle from conception through delivery and maintenance.Organizations from many industries, including aerospace, banking, computer hardware, software, defense, automobile manufacturing and telecommunications,use CMMI-DEV.
The CMMI framework is frequently used in ICT companies for process improvement initiatives. However, it is not often used in IT-enabled services companies, especially financial organizations.
With increasing dependence on IT, many financial organizations are facing challenges in translating business vision and alignment strategies into multi-year IT investments and operating plans, as well as challenges with the impact of IT on the enterprise’s performance measurement.
COBIT® provides an end-to-end business view of the governance and management of enterprise IT(GEIT) and reflects the central roles of information and technology in creating value for enterprises.
Read the rest of the article here