The standard provides principles, a model and vocabulary as a basic framework for implementing effective corporate governance of information and communication technology (ICT) within any organization.
An IT Management and Governance working group called IT-030 was announced in July 2002[6][failed verification – see discussion] and fully formed in August.
[1] One of IT-030's first substantial meetings was held in Sydney September 24–26 with the goal of using a qualitative survey to gauge interest in developing a full standard.
[8][9] Those insights were discussed at a follow-up meeting in Canberra on September 30, agreeing that the "'Governance of Information and Communications Technologies' would be a more accurate reflection of the emerging scope of the standard.
[10] By September 2004, the draft standard was being presented at the 2004 Australian Computer Society National Conference in Melbourne, and submitted comments were being resolved, with an eye on a late 2004 publication.