Novarica Releases Seven Step CIO Checklist for Successful Architecture Governance

BOSTON - Dec. 8, 2014 - PRLog -- Novarica, a research and advisory firm focused on insurance technology and strategy, today announced the release of its latest CIO Checklist Briefing: Architectural Governance.  This executive brief provides CIOs with a seven step checklist to ensure that IT investments align with business goals.

In order to be successful in a 21st Century business technology environment, CIOs need to fully understand technology transformation projects.  One of the best ways to manage technology risk is through enterprise architecture governance.  Much like insurance underwriting, enterprise architecture takes a holistic view of risk, avoids long-term unforeseen consequences, and manages total company risk within pre-defined guidelines.

A strong architecture process will help insurers to simplify their IT landscape over time, deploy more agile business capabilities, and future proof solutions as technology continues to evolve rapidly in the years to come.  Based on the direct experience of Novarica Principals and Research Council Members, below are seven steps that can be used to determine architectural governance maturity.

*Identify key business and IT strategic drivers and create reference documents that will arbitrate technology decisions.

*Establish a target technology reference architecture that reflects all possible investment needed without economic constraint.

*Link architecture governance to funding governance through logical gates.

*Create a standard template to capture all dimensions of the architecture review and highlight the tradeoffs that may be needed.

*Gain commitment in writing for future projects and investments.

*Adopt a test-and-learn culture for architecture. Test the proposed solution and its expected benefits, implementation complexity, and its technical feasibility.

*Support the architecture process consistently.

“A lot of people think Enterprise Architecture is about sign-offs and permissions but it’s a lot more than that,” explains, Mitch Wein, Principal, Novarica.  “The enterprise architecture process is really about two things.  The first is to identify risk and remove it.  The second is to make sure programs and projects are moving the organization towards its desired capabilities. Novarcia’s latest executive checklist brief is a quick and easy way for CIOs to see if their enterprise architecture efforts are headed in the right direction,” says Wein.

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About Novarica

Novarica provides information, insights, and perspectives on markets, operations, and technology to financial services and insurance executives. The company delivers its service through published research, retained advisory services, and project-based consulting. Novarica draws its knowledge from the personal experience of its principals, the ongoing information gathering initiatives of dedicated research staff, and regular communication with insurer executives through informal networks and through the Novarica Insurance Technology Research Council, a moderated knowledge-sharing community of more than 325 senior IT executives representing more than 300 North American insurers.