Adaptable IT Risk Management Is an Advantage, Not a Burden
- June 8, 2021
- Quantivate
Growing cyber threats, an evolving regulatory environment, intricate data sets across multiple verticals—the complexities of IT risk management require solutions that equip your organization to organize, manage, and monitor risk and security.
Designing an active approach that keeps pace with changes in the IT risk landscape requires a holistic strategy that not only looks to mitigate today’s risks, but also provides a scalable approach to addressing future risks.
Ensuring that information technology infrastructures are secure is a mission-critical business function. Designing a clear strategy to confront the unforeseen prepares your organization to handle risks as they arise, operate resiliently and efficiently through crisis, and support long-term institutional health and performance.
A mature management program will provide transparent situational awareness in understanding information technology risk across the entire organization. In contrast, many institutions isolate IT risk and cybersecurity processes across multiple systems that are ill-equipped to support change management and agile decision-making.
IT risk management processes shouldn’t be a burden; they should be part of your organization’s advantage to the point that unforeseen events cause only minor turbulence rather than a managerial nightmare. This requires solutions and strategies that map out action plans and contingencies for the wide range of vulnerabilities and requirements necessary to overcome change.
Designing IT Risk Management Processes for Adaptability
Organizations endure a breakneck pace of change, and how they prepare for IT risk management can make the difference in survival and adaptation. Organizations need to consider the following in designing their IT risk management processes:
- Efficiency
- Responsiveness
- Stability
- Scalability
- Effectiveness
- Cohesiveness
An organization that isn’t prepared for change is preparing itself for future obsolescence and long-term operational failure. Organizations need to build around the inevitability of uncertainty and change. Designing an effective plan for that change requires a unified approach that enables all stakeholders to quickly take effective action with total situational awareness.
An approach that enables high visibility and strategic risk management alignment across functions must have technology as its backbone.
When sound risk management practices are embedded in how your organization delivers its products and services, you can focus on delivering value to customers, preventing emerging risks from becoming distractions, and maintaining operational focus.