Data Governance (DAMA-DMBOK2 Chapter 3) Review

Flashcards providing key definitions and vocabulary terms related to the Data Governance and Stewardship framework as described in the lecture notes.

Data Governance (DG)

The exercise of authority and control (planning, monitoring, and enforcement) over the management of data assets.

Data Stewardship

The most common label to describe accountability and responsibility for data and processes that ensure effective control and use of data assets.

Data Strategy

Defining, communicating, and driving execution of how an organization handles data assets, which the Data Governance function guides.

Data-centric Organization

An organization that values data as a corporate asset and proactively considers data requirements as part of strategy development, program planning, and technology implementation.

Sustainable (DG Goal)

A principle where the DG program is an ongoing process with business leadership and ownership, rather than a project with a defined end.

Embedded (DG Goal)

The integration of DG activities into development methods, analytics, Master Data management, and risk management.

Centralized Operating Model

An operating framework where one single Data Governance organization oversees all activities in all subject areas.

Replicated Operating Model

An operating framework where the same data governance model and standards are adopted identically by each business unit.

Federated Operating Model

An operating framework where one Data Governance organization coordinates with multiple Business Units to maintain consistent definitions and standards.

Chief Data Steward

A person who may chair data governance bodies in lieu of the CDO or act as a CDO in a virtual or distributed data governance organization.

Executive Data Steward

Senior managers who serve on a Data Governance Council and are responsible for high-level oversight.

Business Data Steward

Recognized subject matter experts (SMEs) accountable for a subset of data who work with stakeholders to define and control data.

Data Owner

A business Data Steward who has approval authority for decisions about data within their specific domain.

Technical Data Steward

Information technology professionals, such as Database Administrators or Data Quality Analysts, who operate within specific Knowledge Areas.

Data Policies

Global directives that codify principles and management intent into fundamental rules governing the creation, acquisition, and use of data.

Data Standards

Established rules established by authority for the measure of quality, value, or format that provide a means of comparison for data assets.

Data Asset Valuation

The process of understanding and calculating the economic value of data to an organization, often involving costs of acquisition, storage, and risk.

Fungible vs. Non-fungible Assets

Unlike fungible assets like money which are interchangeable, data sets are non-fungible because one organization's data differs uniquely from another's.

Asset Principle

The accounting principle stating that data and content are assets and should be managed and accounted for like material or financial assets.

Going Concern Principle

The accounting principle that treats data as critical to ongoing business operations rather than a temporary byproduct.

Business Glossary

A core DG tool that houses agreed-upon definitions of business terms and relates them to data to reduce ambiguity.

Data Governance Steering Committee

The highest authority organization for DG, responsible for oversight, support, and funding, typically consisting of senior executives.

Data Governance Council (DGC)

A body that manages DG initiatives, developments of policies, and issue escalations across the enterprise.

Data Governance Office (DGO)

A group with an ongoing focus on enterprise-level data definitions and standards, consisting of coordinating stewards or owners.

Readiness Assessment

Evaluations that describe the current state of an organization's maturity and capacity to change in preparation for a DG program.

Organizational Change Management (OCM)

The formal process for bringing about behavioral change in an organization to ensure data governance is accepted and sustained.

Replacement Cost

A valuation method based on the cost of recovery for data lost in a disaster or breach, including transactions and documents.

Risk Cost

A valuation based on potential penalties, remediation, and litigation expenses stemming from data mismanagement or regulatory non-compliance.

IT Governance

A function that makes decisions about software, hardware, and technical architecture investments, separate from Data Governance.

COBIT (Control Objectives for Information and Related Technology)

A framework providing standards for IT governance, though only a small portion addresses data management specifically.