Governance, Risk Management and Compliance (GRC)
This term encompasses a wide variety on concepts associated with directing and controlling an organization to achieve desired results (governance), identifying , identifying, analyzing and mitigating that that could adversely impact realization of business goals and objectives (risk management) and conforming to applicable internal and external requirements (compliance). In the IT function, GRC supports management in ensuring that IT is aligned with the business and delivers value, that risks inherent to planning, implementing, using and operating technology are adequately managed and that the organization has implemented the necessary controls to address compliance requirements. Bridgewater Consulting Group assists clients in defining corporate security management strategies, evaluating and auditing an organization’s information security management system against ISO/IEC 27001 and other standards, evaluating policies and procedures, performing security risk analyses and other specialized services.
Service Management (ITSM)
One of the emerging trends in information technology (IT) management is conceptualizing the IT function as a service provider to internal and external clients. ITSM is primarily a framework intended to maximize business benefits in the management of the IT service lifecycle. ITSM facilitates the process of breaking down the IT function’s activities into interrelated processes that can be characterized, measured, and improved to the benefit of the business. In essence, ITSM addresses the goals of cost reduction, reduction in unplanned downtime, and aligning the IT department’s priorities with the rest of the business. Bridgewater Consulting Group assists clients in developing their ITSM capabilities through the adoption of best practices such as the IT Infrastructure Library (ITIL), as well as evaluating internal controls in the IT function through frameworks such as Control Objectives for IT (CObIT).
Software Development Lifecycle (SDLC)
The software development lifecycle provides a framework for planning, designing and implementing software systems. The primary goal of the software development lifecycle is delivering software systems that enable a business service that meets functional requirements, operates reliably within the current and planned IT infrastructure, can be effectively maintained and affords the flexibility to adapt the system as business requirements evolve. Bridgewater Consulting Group assists clients in navigating the software development lifecycle, including developing feasibility studies, planning and resource estimation, definition of functional and technical requirements, validating system functionality, developing testing strategies and designing quality assurance plans.
The formulation of an IT Strategy address the question of how should an organization guide the development, operating model, and investment in its IT function for the next three to five years in order to achieve alignment with the corporate strategy. The development of an IT strategy is based upon consideration of a client’s business strategy, the corporate organizational structure, the overall profile if its human resources, the operational processes that support the value chain, and the current IT portfolio. Bridgewater Consulting Group assists clients in evaluating the strategic effectiveness of its IT function and formulating an IT strategy that will be adopted and implemented by senior management.
The key to effective project management is devising a planning, execution, control, and measurement system that can bring about the desired results for a project. The project management function should also ensure that all key stakeholders in the project are involved from the beginning and adequately informed as the project progresses. Bridgewater Consulting Group assists clients in managing their projects, implementing a centralized project management control function (Project Management Office), and evaluating the effectiveness of their project management function.