Risk, like beauty, is in the eye of the beholder. Not only do different parts of the enterprise maintain different views and definitions of risk — within the IT department a fragmented approach to defining and managing risk exists. IT risk is more than IT security and includes project risk, architecture risk, vendor supplier risk, customer satisfaction, and more. Faced with increasing challenges to measure and monitor risk, alongside increased pressure to comply with regulations, IT organizations are beginning to explore a more holistic view of risk across the IT organization. IT is taking a seat at the enterprise risk management (ERM) table, which in turn requires that IT develops an IT risk management strategy.
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