Today, information technology (IT) drives every business function, causing companies to stumble when IT systems fail. Research shows that company executives and employees hold IT solely accountable for keeping systems up and running. To be effective, IT managers must understand the risks faced not only by its own department, but also by technology-dependent departments. In essence, corporate IT managers must also be efficient risk managers.
For decades, enterprise risk management (ERM) methodologies have helped IT managers respond to this challenge. However, these methodologies are time-consuming and you may need outside consulting expertise to facilitate inter-departmental discovery, alignment, and implementation. As a result, only the largest and most profitable companies undertake projects of this scope.
The good news is — current technology puts cost-effective IT continuity within the grasp of nearly every organisation.
This document provides insight into IT risk preparedness. It provides a straightforward budgeting approach for estimating the cost of effective disaster recovery and IT continuity for your unique infrastructure and presents an easy and agile methodology — ERM-Lite.