IT Risk, Business Consequences
With information technology becoming an increasingly important part of all enterprises, IT risk is gaining importance for CIOs and their business counterparts. However, the complexity of IT makes it very difficult to understand and make good decisions about IT risks. This program discussed how IT systems and people affect four key enterprise risks and examined how enterprises build effective processes to identify, prioritize, and address their IT risks. If done well, IT risk management can move beyond pure compliance to create new value for the enterprise. The highly interactive discussion included research findings, best practices, video clips, and case studies drawing upon a three-year research project with more than 150 enterprises.
In the afternoon session, we heard perspectives on IT risk from three veteran CIOs representing three different risk-sensitive industries: space exploration, energy, and banking.
George Westerman, Research Scientist, MIT Sloan’s Center for Information Systems Research
Lyn McDermid, Dominion