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It's all in the Risk

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« Mentoring--Valuable for you, your company, and the menteeExcuse me....do you know what time the courier leaves? »

It's all in the Risk

02/25/10

Permalink 12:43:42 pm, Categories: IT Leadership, Business Leadership

Watching all of the drama and information about the recent Toyota debacle, I have been giving extra thought to the area of risk management. While we often think about IT risk management in terms of backups and redundancy, there are other areas that often get overlooked--and some of these areas can positively impact the bottom line rather than simply being an expense:

  • When planning the go-live of a new system, have a well-thought-out contingency plan in place so that the business can keep operating if something goes wrong
  • Consider performing a Business Impact Analysis (BIA) to determine which systems are TRULY critical and need to be restored first in a disaster situation (while everyone thinks "their" system is critical, in reality, most businesses have only a few systems that immediately and directly impact daily operations)
  • Regularly evaluate the risk of keeping "old" systems around--there are many kinds of risk here, including e-discovery, never-ending support costs, obsolescence, security, etc.
  • Breach notification policies need to be in place and regularly tested, communicated, and updated

Risk management may not be sexy or high-profile, but it is important to the well-being of the organization. Make sure that everyone understands this and is involved in the risk assessment process.


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Don shares his experience and ideas about how to get the most value from your IT function. Note: The views and opinions expressed here are those of Don and do not necessarily reflect the views and opinions of his clients or employers.

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