How an IT Risk Assessment Helps LA Distributors (SlideShare)

How an IT Risk Assessment

Helps LA Distributors

Courtesy of FPA Technology Services, Inc.

http://www.TechGuideforLADistributors.com

http://www.techguideforladistributors.com/

Sponsored by http://www.TechGuideforLADistributors.com

Craig PollackFounder & CEO

Risk comes in two kinds –

good and bad




It can be negative:

examples are system

crashes, software failures

and data security breaches




But it can also be positive,

such as in the implementation

of new systems for business

advantage,




business process automation

for higher efficiency,

or a move to cloud-based

IT operations




Risk assessment needs to

address both aspects




IT Underlies All of Your

Enterprise and So Does IT Risk




Enterprise risk management

(ERM) typically deals with

four main areas of risk




• Company Strategy




• Operations




• Financial




• Compliance




Bad IT Risk? Down, Risk, Down!




The likelihood of a threat

(IT failure, data theft, etc.)

and its business impact

both need to be evaluated




Multiplying these two items

together (likelihood x impact)

then gives a ‘risk value’




The higher that value,

the more the risk needs

to be mitigated, transferred,

or eliminated




IT security solutions can bring

down the likelihood of a risk

manifesting and therefore its

‘risk value’




Good IT Risk? Over Here!




The calculation above

also applies to good IT risk,




except that now we want

both (positive) impact

and likelihood to go up for

increased business benefit




The positive impacts are

increased reseller loyalty

and improved profitability




Handling Multiple Risks




IT risk assessment should

also handle several risks

in combination




On the other hand,

multiple IT projects

each with a business benefit

(positive risk) can be handled

in a software application




that extends from individual

project management

to project portfolio (multiple

project) management




This allows you to tune

individual project schedules

and investments to optimize

the overall benefit to your

business




Do higher IT risks generate

higher rewards?




Give us your take on this

aspect of IT risk assessment

in the Comments box below


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