Build an IT Risk Management Program

Mitigate threats with a cost-focused approach to IT risk management.
 Join Now

If you're already a member, click here to log in.

Major Business Pain Points

  • Risk is an unavoidable part of IT. And what you don't know, can hurt you. The question is, do you tackle risk head-on or leave it to chance?
  • Get a handle on risk management quickly using this methodology and reduce unfortunate IT surprises.
Build an IT Risk Management Program-Pain Points

Recommendations

Key Points

1.   IT risk is business risk.

Every IT risk has business implications. Create an IT risk management program that shares risk accountability with the business.

2.   Risk is money.

It’s impossible to make intelligent decisions about risks without knowing what they’re worth.

3.   You don’t know what you don’t know.

And what you don’t know can hurt you – so find out. To find hidden risks, you need a structured approach.

Build an IT Risk Management Program-Recommendations

Approach

  • Stop leaving IT risk to chance. Transform your ad hoc IT risk management processes into a formalized, ongoing program and increase risk management success by 53%.
  • Take a proactive stance against IT threats and vulnerabilities by identifying and assessing IT’s greatest risks before they happen.
  • Involve key stakeholders including the business senior management team to gain buy-in and to focus on IT risks that matter most to the organization.
  • Share accountability for IT risk with business stakeholders and have them weigh-in on prioritizing investments in risk response activities.
 Subscribe to Premium

Methodology and Tools

Executive Brief

Read the concise Executive Brief to find out why you should build an information security strategy and review the methodology.

  • Build an IT Risk Management Program – Executive Brief
  • Build an IT Risk Management Program – Phases 1-3

1. Review IT risk fundamentals and governance

Assess the current maturity of IT risk management, identify key stakeholders, and establish a governance framework.

  • Build a Business-Driven IT Risk Management Program – Phase 1: Review IT Risk Fundamentals and Governance
  • Risk Management Program Manual

2. Identify and assess IT risk

Identify and assess all of IT’s risks.

  • Build a Business-Driven IT Risk Management Program – Phase 2: Identify and Assess IT Risk
  • Risk Register Tool
  • Risk Costing Tool

3. Monitor, communicate, and respond to IT risk

Establish monitoring responsibilities, identify risk responses, and communicate priorities to the business.

  • Build a Business-Driven IT Risk Management Program – Phase 3: Monitor, Communicate, and Respond to IT Risk
  • Risk Event Action Plan
  • Risk Report

All resources on this page are provided to Cyber Leadership Hub members under license from third parties including Info-Tech Research Group Inc, a global leader in providing IT research and advice.