INFORMATION TECHNOLOGY (IT) RISK MANAGEMENT<\/strong><\/p>\n \u00a0<\/strong>What is Risk?<\/strong><\/p>\n Risk is any unwanted event which impact organisation\u2019s objectives to attain business goal.<\/p>\n There are various type of business risk exists in any organisation<\/p>\n Risk Management is a process of Identifying, analysis and evaluating the organisations risks and then providing appropriate controls in order to mitigate the risk.<\/p>\n What is IT Risk?<\/strong><\/p>\n In this digital age most of the businesses are using Information Technology. Hence IT is playing very pivotal role in many businesses.<\/p>\n If any organisation use IT to manage their business, it is very important to understand and identify risk related to their information systems and data, then to manage and reduce the risk, and develop a response plan in the case of any IT crisis.<\/p>\n Nowadays business have regulatory and legal compliance obligations in relation to data privacy, electronics transitions and staff training which are the factors which can influence IT Risk Management strategies.<\/p>\n Main IT risks include software and hardware failure, malicious and virus attacks, humanerrors, misconfigurations as well as natural disaster like flood,fire earthquake and cyclones.<\/p>\n General IT Risk<\/strong><\/p>\n These Risk can be subcategorised further:<\/p>\n How to Manage Information Security Risk?<\/strong><\/p>\n Management of IT risk involves a series of activities in this chronological order:<\/p>\n How to reduce Information Technology Risk?<\/strong><\/p>\n There are lots of risks and threats on business which can impact IT Operations. Applying appropriate measures will protect the IT system through unauthorised access.<\/p>\n Few steps to improve IT Security<\/p>\n \u00a0<\/strong>Few famous standards and frameworks which can help organisations to mitigate IT risks are:<\/p>\n For any organisation risk identification is the first step for risk mitigation. An undetected risk is the most dangerous thing, a treatment methodology can be only be implemented once the risk is identified. Organisation need a right approach and skilled workforce to this job.Step by Step risk management process will help organisation\u2019s to mitigate IT related risk and get an effective and efficient IT system to achieve business goals.<\/p>\n<\/div>\n\n
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NATURAL DISASTERS\u00a0<\/strong>SUCH AS FIRE, EARTHQUAKE, CYCLONE AND FLOODS ALSO ACTS AS RISK TO IT INFRASTRUCTURE. IN ABSENCE OF BUSINESS CONTINUITY PLAN, IT MAY LEAD TO DATA LOSS, CORRUPTION IN DATA RECORDS AND UNAVAILABILITY OF IT SERVICES TO THE CUSTOMERS.<\/h3>\n
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