A situational leader is one who can apply different leadership styles depending on the situation. Ken Blanchard, management guru and Paul Hersey created a model for Situational Leadership in the 1960's which has been a big hit with leaders every since due to its simplicity and the fact that it works.

To get the best possible results from people, first consider the combination of the PERSON whom you're leading, and their COMPETENCE IN THIS SITUATION - in the task you'll ask them to perform, or the result you'll ask them to deliver. Then delegate using the most productive style to suit that situation ...

Read more and see the best practice framework on this:

Sitauational Leadership Framework

COBIT is a tool that allows managers to communicate and bridge the gap with respect to control requirements, technical issues, and business risks. It's designed for 3 distinct audiences: Management - to help them balance risk & control investment, Users - to obtain assurance on the security and controls of IT services and Information Systems Auditors - to substantiate opinions and/or provide advice to management....

Utilize COBIT - a dynamic franework

Enterprise risk management is a process, effected by an entity's board of directors, management and other personnel, applied in strategy setting and across the enterprise, designed to identify potential events that may affect the entity, and manage risks to be within its risk appetite, to provide reasonable assurance regarding the achievement of entity objectives...

COSO Framework for Enterprise Risk Management Blog