Build an IT Risk Management Program

Mitigate the IT risks that could negatively impact your organization.

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Blueprint 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.

  • 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.

  • 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.

  • 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.

  • Risk Event Action Plan
  • Risk Report
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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.
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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

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About Info-Tech

Info-Tech Research Group is the world's fastest-growing information technology research and advisory company, proudly serving over 30,000 IT professionals.

We produce unbiased and highly relevant research to help CIOs and IT leaders make strategic, timely, and well-informed decisions. We partner closely with IT teams to provide everything they need, from actionable tools to analyst guidance, ensuring they deliver measurable results for their organizations.

What Is a Blueprint?

A blueprint is designed to be a roadmap, containing a methodology and the tools and templates you need to solve your IT problems.

Each blueprint can be accompanied by a Guided Implementation that provides you access to our world-class analysts to help you get through the project.

Guided Implementations

This guided implementation is an eight call advisory process.

Guided Implementation #1 - Review IT risk fundamentals and governance
Call #1 - Assess current risk maturity and organizational buy-in.
Call #2 - Establish an IT risk council and determine IT risk management program goals.
Guided Implementation #2 - Identify and assess IT risk
Call #1 - Identify the risk categories used to organize risk events.
Call #2 - Identify the threshold for risk the organization can withstand.
Call #3 - Prepare for risk assessment by selecting tools and methodologies.
Guided Implementation #3 - Monitor, respond, and report on IT risk
Call #1 - Create a method to assess risk event severity.
Call #2 - Establish a method to monitor priority risks and consider possible risk responses.
Call #3 - Communicate risk priorities to the business and implement risk management plan.