IT Risk: Turning Business Threats into Competitive Advantage

Abstract

Consider the following : failed software implementation at a pharmaceutical manufacturer leads to the company's bankruptcy. Data theft at CardSystems Solutions prompts the firm's two largest customers - Visa and Mastercard to defect. Errors in a tax-credit management system at the U.K. Inland Revenue lead the organization to pay out over 2 billion pndsterling in erroneous tax credits. Complexity of IT systems impairs a high-tech manufacturer's ability to buy and sell businesses. These and other manifestations of IT risk may seem like they can't happen within your own organization. In IT Risk, George Westerman and Richard Hunter prove otherwise - revealing the dangers of clinging to that assumption. IT has become increasingly central to business success - but many enterprises haven't adjusted their processes for IT decision making and risk management. The result? IT Risk incidents carry a much higher price tag than they used to. They harm constituencies within and outside companies. They damage corporate reputations. They expose weaknesses in firm's anagement teams. They expose weaknesses in firms' management teams. And they rob profits and dampen competitive advantage. In this timely and authoritative book, the authors define four types of IT risk: availability, access, accuracy, and agility. Citing numerous company examples, they then introduce three disciplines that enterprises must master to manage IT risk effectively. * a solid foundation of IT assets, people, and supporting processes and controls that enable executives to manage the right risks in the right order. * A well-designed risk governance process-including oversight by high-level executives - that allows companies to identify, prioritize,and track risks. * A risk-aware culture, nurtured from the top, that attunes people to the causes and solutions for IT risks and creates increased vigilance across the organization. This book also offers powerful diagnostic tools to measure your company's strengths in each core discipline - and help you continously improve competency and competitive advantage.

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