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Are you exposing your business to IT risk, and leaving profit opportunities on the table? You might be if you are managing your IT risk using more traditional approaches. IT Risk, a new book based on research conducted by MIT s Center for Information Systems Research and Gartner, Inc., helps companies focus on the most pressing risks and leverage the upside that comes with vigilance.
Traditionally, managers have grouped technology risk and funding into silos. IT Risk outlines a new model for integrated risk management, which identifies three core areas you can develop to eliminate the problems that silo strategies create. The authors also offer specific ways to make the most of your new found advantage. And because IT risk is the responsibility of all senior executives not just CIOs this book describes the tools and practices in language that general managers can understand and use.
Named a top-ten managerial book of 2007 by CIO Insight magazine.
- Sales Rank: #650832 in Books
- Brand: Brand: Harvard Business School Press
- Published on: 2007-08-21
- Original language: English
- Number of items: 1
- Dimensions: 9.25" h x 6.50" w x 1.00" l, 1.20 pounds
- Binding: Hardcover
- 240 pages
- Used Book in Good Condition
Review
IT Riskdoes a great job of discussing technology risk in the context of business disruption. --Intelligent Enterprise, September 10, 2007
IT risks directly impact business performance, and [the authors] advise business executives on how they can manage IT risk as business risk with business consequences. --Government Technology, October 10, 2007
About the Author
George Westerman is Research Scientist in the Center for Information Systems Research at the MIT Sloan School of Management. Richard Hunter is Group Vice President and Gartner Fellow in Gartner Executive Programs.
Most helpful customer reviews
10 of 10 people found the following review helpful.
Give this book to your CEO and CIO
By Mark P. McDonald
IT used to be thought of as separate from the business, a staff function that by itself could enable but not change the business, its value or its brand. Well that view no longer holds water and Westerman and Hunter show how IT risk is really business risk and needs to be treated as such. In their book, the two provide a clear and concise discussion about IT risk from the perspective of the leader/practioner rather than the perspective of the auditor.
Since business and IT have become so closely intertwined and this book offers clear and actionable advice - not fear, uncertainty or doubt - I recommend this as a read for the CIO/IT executive as well as the CEO so they can understand what to expect both in terms of protection but also competitive advantage from the ability to manage IT risks.
I come to this position from the way Westerman and Hunter introduce the concept of risk management and the way they have organized the book. They introduce a framework of four "A's" that looks at risk from a business perspective, rather than an auditing or compliance perspective. The four A's that define IT risk are:
Availability -- keeping business processes and information flowing through the business
Access -- ensuring that the appropriate people, including customers and suppliers, can get the information and functionality they need to be effective
Accuracy -- concentrating on providing timely and complete information to meet operating and oversight needs
Agility -- the ability to change with managed cost and speed.
Westerman and Hunter address this subject in a clean and concise nine chapters that provide actionable advices on how to plan and manage risks. One thing of note is that the book talks about using your risk management capability as a competitive weapon -- what you can do that others cannot because you manage risk better. This gives the topic of risk management a strategic context that is unique to this work.
The book can be thought of as being in three parts.
Part One is about the framework and the overall approach to risk management. It includes the following chapters:
Chapter 1: The 4A Risk Management Framework
Chapter 2: The Three Core Disciplines of IT Risk Management
Part Two concentrates on the actionable management steps business and technology executives can use to manage risk.
Chapter 3: Fixing the Foundation: strengthening the base of the pyramid -- about the importance of infrastructure in risk management.
Chapter 4: Fixing the Foundation: simplifying the base of the pyramid -- about how complexity drives risk, cost and performance levels.
Chapter 5: Developing the Risk Governance Process -- covering how do you manage and make decisions regarding IT and Business risks.
Chapter 6: Building a risk-aware culture-- here the authors make an important connection between risk and culture and a critical distinction between being risk aware (strategically important) and being risk adverse (strategic killer)
Chapter 7: Bringing the three disciplines up to speed -- concentrates on the program and patterns for effective implementation.
Part Three looks at the future and improvements to risk management
Chapter 8: Looking ahead -- talks about how to incorporate risk management as a positive force in planning and strategy setting
Chapter 9: Ten ways executives can improve IT risk Management.
Overall this is a must read for CIOs, IT risk management and IT profesionals. It is also recommended reading for CEOs and others who want to understand how to manage IT and how to gain advantage from having good IT.
0 of 0 people found the following review helpful.
Five Stars
By CADeM
Excellent book
1 of 2 people found the following review helpful.
How simple can it be? - It's been right in front of us - The Ah-Ha
By Ray Milliken
Dr. Westerman gave an EXCELLENT presentation during the 14th Annual Pink Elephant Service Management conference in Las Vegas during the week of February 22, 2010.
In summary, the approach utilizes RISK as a compelling conversation driver to pursue positive IT change within your organization. How simple, it's been right there in front of us........ This should be an AH-HA moment for us all.
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