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RISK Management - Gartner Says it is Broken and handled poorly in many organizations
Written by John Stevenson
Gartner - recently published a short update on the status of IT and overall Corporate Risk Management. Bottomline - Risk Management in Companies is receiving increased visibility in these turbulent times. Both natural and man-made issues affecting corporate stability are happening with more frequency and are being publicized. Question for CIOZONE Execs: Do you think Risk Management (either just in IT or across the corporation in general) is broken ? Yes or No If Yes, what should be done to fix it ? If No, what is going right ?


Comments (3)
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1. 06-04-2008 12:20
 
Risk management is mainly basing on past predicting the future issues and creating mitigation plan. In the stronger and progressive ecconomy it will be easier to plan and keep making Risk Management changes to the system to avoid any losses to the company. However, when something unpredicted or some drastic change happens in the ecconomy, such as now, there is a chance that Risk Management will be in problem. Even though they comeup with quick fix to avoid any losses, it is imperative to a system to support such quick and frequent changes into the production. Organizations that does not have self servicing mechanisms for making Risk Based changes into the system will surely have problem in this tight and turbulent ecconomy.
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2. 06-04-2008 12:24
 
Risk management is mainly basing on the past data and predicting the future issues and creating mitigation plan.Also, keep identifying the sustainable risk level for the organization. In the stronger and progressive ecconomy it will be easier to plan and keep making Risk Management changes to the system to avoid any losses to the company. However, when something unpredicted or some drastic change happens in the ecconomy, such as now, there is a chance that Risk Management will be in problem. Even though they comeup with quick fix to avoid any losses, it is imperative to a system to support such quick and frequent changes into the production. Organizations that does not have self servicing mechanisms for making Risk Based changes into the system will surely have problem in this tight and turbulent ecconomy.
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3. 06-06-2008 15:18
 
Riak Management should never be "economically" driven, the same as with its sibling; Disaster Recovery and Disaster Planning. Often we outgrow our last generation of DR Plans without even recognizing it and that is when a first stage of higher risk hits. This should be the number one item to attack and fix.
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John Stevenson

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