Analysis: Impact of IT Risk Management on Business Operation

Business operation is dependent on several factors and processes. Some of the factors are risk management; strategies opted for risk removal and others. IT risk management of every organization is different. That is, it dependents on their IT applications dependency. It helps organization to manage and protect their business operation from different information technology based risks. On the other hand, IT risk management process involves proper analysis, identification, elimination and other of risk. Some of the common IT risk in business operation are; operational risk, compliance risk and others. In addition to this, every operation of business in current time is dependent on information technology. And with the increase dependency of business on information technology has increased the chance of risk also. On the other hand, information technology application and other if not implemented properly it can cause harm to operation. Apart from this, IT risk management also affects the decision making and other processes of organization. The best way to reduce the IT risk management impact on operation is to plan proper risk management strategies and policies. The risk management process if implemented without analysis in business, it will affect the productivity and profitability. On the other hand, the risk management also helps in improving business operation performance.

References

Kerzner, H. R. (2013). Project management: a systems approach to planning, scheduling, and controlling. John Wiley and Sons.

Sadgrove, M. K. (2015). The complete guide to business risk management. Ashgate Publishing, Ltd..

McNeil, A. J., Frey, R., and Embrechts, P. (2015). Quantitative Risk Management: Concepts, Techniques and Tools: Concepts, Techniques and Tools. Princeton university press.

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