Managing IT Risk Effectively

February 10, 2008

It’s always been hard to escape risk. Almost everything an individual (or company) does involves some level of risk–often times multiple types of risk. Of course, over the years, the types of risk that we face (both as individuals and as corporations) has changed.
That’s where risk management comes in. For large companies, IT risks have to be managed on a global scale. To do this, organizations need to ensure that there’s a common set of minimal controls that are observed across the company or globe. Then, individual departments or geographies add to extend these controls and risk management strategies by defining ones that are appropriate for their situation. It’s important to make sure that there’s flexibility built into your approach for risk management, since having a one size fits all approach is generally not a true reflection of the enterprise and is typically not realistic or achievable.

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