Week 2 - WhizBiz Pty Ltd

Whizbiz Pty Ltd (WB) deals extensively with online trading and customer detail databases. The risks inherent in this kind of operation are large, with internal and external fraud opportunities presumably widespread. And yet, the director is taking a negative approach stating that COBIT is too much work for too little benefit, and that it is a ‘one size fits all’ framework, which may not be appropriate.

Focusing on risks alone, WB’s biggest problem in my opinion, one of COBIT’s main objectives is to reduce risk, and the framework would help identify and put in place measures to counter the potential fraud or theft problems. We know that if customer’s details were stolen, or if online theft occurred, the costs to WB would be massive.  The initial and ongoing cost of implementing a framework such as COBIT would be negligible compare to this.

Another point to make is that the domains outlined in COBIT focus on control, rather than the actual execution.  The user is encouraged to simply pick those parts relevant to them and put in place the appropriate measures. The focus of the four domains, and their processes, and COBIT in general, is to help the user implement an effective strategy for their organisation, rather than inform them what they should or shouldn’t be doing.

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