IT Risk Management Planning

IT Risk Management Planning

Gain an Understanding of What IT Risk Management Is and How You Can Protect Against Potential Threats.

What is IT risk management? According to Lexico, powered by Oxford, risk management is, “the forecasting and evaluation of financial risks together with the identification of procedures to avoid or minimize their impact.” More often than not, in this day and age, risks to an organization come from cybersecurity threats and hackers. The more involved your IT department is with IT risk planning, the better protected your organization is.

How Does IT Risk Management Impact Your IT Strategy?

Your risk management strategy directly impacts your IT strategy. Why? Your risks are more than just theft and possible physical threats. Most of your business is operated online in 2020, and this goes beyond credit card transactions. Between your finances, important legal documents, employee inboxes, and other vital business information, nearly everything is operated in the cloud. This means your IT strategy must not only involve the ability to assist your organization’s employees in staying productive and operating efficiently, but it must also protect against security threats. When it comes to risk management, your IT strategy must be ready to face the biggest threats to any and all sensitive information.

What Happens If Your IT Department Isn’t Involved in IT Risk Management?

When your IT department isn’t involved in IT risk management, your organization can suffer from a number of cybersecurity attacks. In many cases, your management team won’t even notice these attacks have taken place until the damage is done. Only your IT department is informed of the absolute latest information surrounding cybercrime. The individuals working for your IT department will ensure your organization has what it needs to protect its vital systems from hackers.

Without your IT department involved in IT risk management meetings, you can expect:

• Lack of internal protocols
• Exposed system weaknesses
• Easy-to-break firewalls
• Financial losses
• And much more!

Don’t make the mistake of not having experienced, professional IT experts involved in your organization’s IT risk management meetings. The greatest protection you have against cybercrime is the individuals who work on keeping your organization’s cloud apps and internal systems up-to-date 365/24/7.

A Lack of IT Risk Management Could Result in an Incredibly Costly Cyberattack.

Any organization that doesn’t actively defend against cybercrime is at risk for thousands – if not millions – of dollars in damages and fees. Money is just the beginning of the losses organizations suffer from when hackers and cybersecurity criminals make their attack. You can lose previous proprietary data, sensitive client information, important documents, and so much more. Additionally, the damage to your reputation can be astounding.

Don’t fall victim to an attack. Think proactively and involve your IT department. These trained individuals understand your organization’s technological framework better than almost anyone else within your organization. They know what is on the cloud and what’s on-premises.

Now that you have a better understanding of the concept of IT risk management, it’s time to make sure your IT department is involved in ALL meetings involving your overall strategy – both business and technology-related.