“Businesses are now so reliant on technology that many simply couldn’t operate without it. IT has become such an integral part of business that IT risk management is an imperative for all organizations. Gone are the days when risk management was only practiced by a specialist department, now risk management touches every part of the business, especially IT.
Technology is ubiquitous, no business of any size can operate without it. Risk management is also becoming more mainstream as organizations realise that risk needs to be an enterprise-wide concern. Indeed, due out later this year, ISO9001:2015, introduces a new approach to the international quality standard which is soon to be underpinned by ‘risk-based thinking’, bringing the concept of risk management to a much wider audience.
Risk management for the IT department isn’t simply limited to ‘keeping the lights on’, it is now underpinning the entire business. IT risk management is moving much higher up the corporate agenda as there are increasing instances where IT outages can result in loss of reputation, loss of business and in some cases, significant financial penalties from regulators.”
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