When it comes to risk management in IT companies, CIOs (Chief Information Officers) review several areas like business continuation, disaster recovery, data and security breaches, financial viabilities of strategies etc. However, there are several other important review areas that may seem unimportant but should not be ignored. If you are an IT decision maker at your company, here are some of the areas you should not forget to consider.
Poor communication
In several cases, operations are carried out on the run, often making communications hurried, misunderstood, incomplete, fragmented and inaccurate. It is very important to keep communication lines clear and open at all times when following project directives. If communication is poor, you could risk the project by misdirecting employees who may not follow the provided guidelines.
Personnel losses
One of the more important positions in IT is the end user employee that mainly handles the implementation of strategies. As a responsible CIO, it is important to look out for end-user IT professionals who may opt for other positions as it can decide the difference between failed and successful strategy implementation.
Acquisition or merger disagreements
When two organizations choose to work together, whether through a merger or an acquisition, it is important for the IT department to remain on top of all developments. Creating a seamless platform for two different organizations to work together is a challenging task that IT departments should manage. All risks and potential problems should be discussed within the department and posed to the organizations to prevent any technical fallouts or disagreements.
Greater involvement in the board’s decision making process
It is a known fact that IT is usually kept away from the boardroom, its discussions as well as the decision making process. This could undermine the true contribution of IT within the organization, making it important for you to make a mark during the decision making process and highlighting the benefits and risks of different IT models introduced into the company.
Insufficient documentation
Regardless of the nature of the project, it is a well known fact that documentation is important and often necessary. However, in many IT projects today, documentation is not given its due importance. Despite self-documentation tools and applications being easily available, most IT projects focus on reaching the deadline rather than documenting the progress. However, if you ever have to revisit an old model and you haven’t documented the past changes, you may have to waste precious time in recreating the steps
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