Risk management programmes must address IT threats associated with digital business

In 2019, organisational risks are turning into significant operational surprises, and the frequency will only increase as digital business requirements grow. There is no longer room for siloed risk management programmes. Instead, security leaders must focus on building integrated risk management programs.

Risk management programmes mitigate the impact of uncertainty on business performance. By 2021, more than 50% of large enterprises will use an integrated risk management solution set to provide better decision-making capabilities, up from approximately 30% today.

Many organisations are good at domain-specific risk management but struggle to harmonise the three key pillars of a successful security and risk management programme — a strong framework, a solid set of metrics and flexible, integrated systems. Integrated risk management can remedy this challenge. It helps improve decision-making and performance through an integrated view of how well an organisation manages its unique set of risks. It is a set of practices and processes supported by a risk-aware culture and enabling technologies.

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