What role does “stakeholder engagement” play in COBIT?

Stakeholder engagement is a crucial element in the COBIT framework, primarily because it promotes collaboration and alignment of objectives among various stakeholders within an organization. By actively involving stakeholders, organizations can ensure that their governance and management objectives align with the needs and expectations of those affected by IT processes and services. This alignment is important for achieving the overall goals of the organization as it ensures that IT delivers value while minimizing risks.

Engaging stakeholders facilitates an understanding of diverse perspectives, fosters communication, and enables collaborative decision-making. It helps in identifying and managing stakeholder needs, leading to better prioritization of goals and more effective resource allocation. Ultimately, a strong emphasis on stakeholder engagement helps drive value creation and supports the strategic goals of the organization, improving both governance and management practices within the COBIT framework.