![]() ![]() Technology Risk Management teams should document adequate responses to identified technology risks as part of their risk management plans. Overall, these factors increase your business’ competitiveness in a digitalized and fast-paced market. Actions appropriate to the perceived threats: Companies have to consider and define their limits, so their actions toward risks will be aligned with their objectives.Īn organization directly benefits from conducting Technology Risk Assessments through reduced costs, a reduction in risk and an increase in your organizational agility.Clear roles: Senior management, technical staff, final users, experts – all individuals involved with information security must have defined functions (e.g., make decisions, identify risks, follow procedures, etc.).A strategic approach to risk management: Creating and allocating resources in the right place, in the right way, and at the right time over time, considering not only the company’s needs but also those of its customers and other interested parties.The increase in international and local regulatory requirements, such as EU GDPR and California’s CCPA, and the need for highly efficient, reliable operations, play vital roles in motivating firms to analyze technology risks.īy adopting a proactive approach to Technology Risk Management, organizations can benefit from: How does Technology Risk Management help? ![]()
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