Build an IT Risk Management Program
Mitigate the IT risks that could negatively impact your organization.
Unlock This BlueprintBlueprint Contents:
1. Build an IT Risk Management Program – A holistic approach to managing IT risks within your organization and involving key business stakeholders.
Gain business buy-in to understanding the key IT risks that could negatively impact the organization and create an IT risk management program to properly identify, assess, respond, monitor, and report on those risks.
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Build an IT Risk Management Program – Phases 1-3
2. Risk Management Program Manual – A single source of truth for the risk management program to exist and be updated to reflect changes.
Leverage this Risk Management Program Manual to ensure that the decisions around how IT risks will be governed and managed can be documented in a single source accessible by those involved.
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Risk Management Program Manual
3. Risk Register & Risk Costing Tool – A set of tools to document identified risk events. Assess each risk event and consider the appropriate response based on your organization’s threshold for risk.
Engage these tools in your organization if you do not currently have a GRC tool to document risk events as they relate to the IT function. Consider the best risk response to high severity risk events to ensure all possible situations are considered.
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Risk Register Tool -
Risk Costing Tool
4. Risk Event Action Plan and Risk Report – A template to document the chosen risk responses and ensure accountable owners agree on selected response method.
Establish clear guidelines and responses to risk events that will leave your organization vulnerable to unwanted threats. Ensure risk owners have agreed to the risk responses and are willing to take accountability for that response.
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Risk Event Action Plan
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Risk Report
Your Challenge
- Risk is unavoidable. Without a formal program to manage IT risk, you may be unaware of your severest IT risks.
- The business could be making decisions that are not informed by risk.
- Reacting to risks AFTER they occur can be costly and crippling, yet it is one of the most common tactics used by IT departments.
Our Advice
Critical Insight
- IT risk is business risk. Every IT risk has business implications. Create an IT risk management program that shares accountability with the business.
Impact and Result
- Transform your ad hoc IT risk management processes into a formalized, ongoing program, and increase risk management success.
- Take a proactive stance against IT threats and vulnerabilities by identifying and assessing IT’s greatest risks before they occur.
- Involve key stakeholders including the business senior management team to gain buy-in and to focus on IT risks most critical to the organization.
Member Testimonials
After each Info-Tech experience, we ask our members to quantify the real-time savings, monetary impact, and project improvements our research helped them achieve. See our top member experiences for this blueprint and what our clients have to say.
8.8/10
Overall Impact
$21,132
Average $ Saved
17
Average Days Saved
Client
Experience
Impact
$ Saved
Days Saved
Johnson County Library
Guided Implementation
9/10
$2,519
5
MassMutual
Guided Implementation
10/10
$69,299
16
Fernco Inc
Workshop
9/10
N/A
10
Massey University
Workshop
3/10
N/A
N/A
Desert Lime Ltd
Guided Implementation
9/10
$20,500
23
The University of Alabama at Birmingham
Guided Implementation
10/10
$2,479
5
The Government of the Northwest Territories
Workshop
10/10
$22,000
50
University of Exeter
Guided Implementation
9/10
N/A
N/A
City of Carlsbad
Workshop
10/10
N/A
20
Integris Credit Union
Guided Implementation
9/10
$10,000
10
Dropbox
Guided Implementation
8/10
N/A
5
Pegasus Business Intelligence, LP d/b/a Onyx CenterSource
Guided Implementation
10/10
N/A
N/A
UMG RECORDINGS, INC.
Guided Implementation
10/10
N/A
N/A
AARP Inc
Guided Implementation
10/10
N/A
N/A
Fernco Inc
Workshop
10/10
$30,999
20
RPC Inc.
Guided Implementation
10/10
$2,546
10
CFA Institute
Guided Implementation
8/10
N/A
N/A
Central Bank of Trinidad & Tobago
Guided Implementation
9/10
N/A
N/A
Kentucky Housing Corporation
Guided Implementation
10/10
$1,782
5
Trinidad and Tobago Unit Trust Corporation
Guided Implementation
10/10
$3,820
20