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

Before identifying and assessing IT's greatest risks, review the following IT risk management fundamentals:

• Benefits of formalized risk management.
• Key terms and definitions.
• Principles of IT risk management.
• Obtaining buy-in and support from the business.

Next, build a framework for IT risk governance by:

• Assessing your current approach to IT risk management.
• Establishing a permanent body within IT tasked with managing risk.
• Setting out clear accountabilities and responsibilities for IT and business stakeholders.