Thursday, March 12, 2009
IT Risk management software (my Adventures into Risk management software)
Risk Management Intro (part 1)
There's already a big industry in Risk Management Systems & Services. There are tons of commercial Risk Management software for different industries and applications. Usually what you hear are health, financial or operation risk management.
For enterprise risk alone, it can be broken down to STRATEGIC, FINANCIAL, PROCEDURAL & Other Risks:
STRATEGIC RISKS - Business decisions, Poor Decision, Competition, New Technology.
FINANCIAL RISKS - Credit risks, Market Pricing, Interest Rate, Liquidity, Asset & Liability, Systemic.
PROCEDURAL RISKS - Operational, Disastaer, Fraud, Terrorism, Project, Contractual.
OTHER RISKS - Regulatory, Reputational, Pandemic, Legal, Environment, Government (yes, government compliance is a risk).
IT Risk Management usually revolves around Information Security, but it doesn't need to.