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CRT-V2 is part of the Control Objectives for Information and Related Technology (COBIT) framework of IT governance and control. It stands for Communicating, Reporting, and Tracking Version 2. It outlines a standard set of best practices and procedures for effective reporting, communication, and monitoring of IT processes, projects, and initiatives. CRT-V2 equips organizations with a structured way to assess, improve, and ensure effective governance and control of their IT operations. It includes information about establishing a framework for effective reporting, communication and tracking of critical IT issues. It also provides guidance on how to select appropriate metrics and KPIs for evaluating performance, and ensuring effective decision-making. In addition, it describes the best practices and processes for establishing a closed-loop governance process that will enable organizations to anticipate, review and address IT issues quickly and effectively.