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Capability management is a high-level management function, with particular application in the context of defense.. Capability management aims to balance economy in meeting current operational requirements, with the sustainable use of current capabilities, and the development of future capabilities, to meet the sometimes competing strategic and current operational objectives of an enterprise.
Capability-based planning had long been entrenched in the defense realm in the US, UK, Australia, and Canada before it was adopted within Version 9 of The Open Group Architecture Framework (TOGAF). [7] Capability Management has in recent years become a popular sub-discipline or method of Enterprise Architecture. Enterprise Architecture seeks to ...
Domain specific GRC vendors understand the cyclical connection between governance, risk and compliance within a particular area of governance. For example, within financial processing — that a risk will either relate to the absence of a control (need to update governance) and/or the lack of adherence to (or poor quality of) an existing control.
Specific business capabilities in business capability models can be titled using either a noun-verb style or a verb-noun style, e.g. "product development" or "develop products". [5] [6] [7] In their simplest form business capability models can show only structured sets of nested business capabilities and sub-capabilities.
A capability, in the systems engineering sense, is defined as the ability to execute a specified course of action. A capability may or may not be accompanied by an intention. [1] The term is used in the defense industry but also in private industry (e.g. gap analysis).
However, each risk function varies in capability and how it coordinates with other risk functions. A central goal and challenge of ERM is improving this capability and coordination, while integrating the output to provide a unified picture of risk for stakeholders and improving the organization's ability to manage the risks effectively.
Internal control, as defined by accounting and auditing, is a process for assuring of an organization's objectives in operational effectiveness and efficiency, reliable financial reporting, and compliance with laws, regulations and policies. A broad concept, internal control involves everything that controls risks to an organization.
People Capability Maturity Model. The People CMM document describes the practices that constitute each of its maturity levels and provides information on how to apply them to guide organizational improvements. It describes an organization's capability for developing its workforce at each maturity level.