An IT management framework, developed by Ireland’s Innovation Value Institute (IVI), is being used by companies worldwide to deliver value and innovation.

The IT-CMF framework has been used to train hundreds of staff at US bank BNY Mellon, and has also been implemented by Japan Tobacco, MillerCoors, AstraZeneca and Chevron, among others.

The IVI, which was founded by Intel and NUI Maynooth, put together a unique set of tools and measuring techniques, as part of the framework, to more effectively manage IT value and innovation. It is hoped the framework will become the global standard for IT management.

"Organisations are putting more pressure on IT departments and IT is having to do more work for less. The framework gives the IT department room to innovate," said Phil Codd, managing director of SQS Ireland, an IVI patron member.

The IVI, along with Intel Labs Europe and the International Society for Professional Innovation Management (ISPIM), will this week bring together delegates from 50 countries for an innovation conference in Dublin.

The international Open Innovation 2.0 Conference is taking place this week. It will be the second time the event has been held in Dublin.

A number of themes will be explored at the four-day conference including business models, entrepreneurship, financing innovation and early-stage innovation.

Vice president and director of Intel Labs Europe Martin Curley and advisor for Innovation Systems at the European Commission Bror Salmelin will chair the first plenary of the day: Open Innovation 2.0 in Theory and Action.

Director of economy and international relations at Dublin City Council Peter Finnegan will chair the second plenary: Living the Dublin Innovation Declaration.

The declaration, adopted by delegates at last year’s conference, is a 10-point manifesto designed to develop a widespread innovation literacy in Europe.