IT risk management is moving much higher up the corporate agenda with high-profile IT outages resulting in loss of reputation, loss of business and in some cases, significant financial penalties from regulators.
Left unchecked risks of all sizes can have a huge impact on an organisation’s operational effectiveness, reputation, and finances. With IT environments becoming increasingly complex and burdened by regulatory pressures, improving the visibility of inherent risks, and in turn, implementing strategies to mitigate them, is of increasing concern for many. Sunrise IT Service Management lets you build a standardised approach to risk management across your IT estate, as well as other operational areas across the whole of your organisation. By proactively managing known risks and their mitigation strategies you can establish a clear picture of threats and opportunities to your operational effectiveness.
Each identified risk is assessed based on the impact and probability to understand the overall risk rating, risk appetite and treatment plan. To mitigate the impact or probability of the risk occurring many controls can be defined to bring the risk in line with the target risk rating. Over time each control can be regularly tested to ensure it remains appropriate and cost-effective.
Effective risk management ensures you’re better prepared, promotes a continuous improvement cycle, and reassures stakeholders. With Sunrise IT Service Management you can move away from constantly firefighting, by improving visibility, and identifying potential gaps and improvements in your processes that can be used to further reduce risk.
Successful auditing provides increased oversight across an organisations business processes and visibly demonstrates adherence to compliance obligations. Failure to do so can lead to financial or reputational losses, and of course affect customer or employee satisfaction. With Sunrise ITSM you can reduce the complexity of your compliance processes, and ensure full traceability and visibility of all activities and audit results.
Risk Management in a nutshell
- Identify risks across changes, releases, complex projects, operational departments and external suppliers, and calculate their risk rating on a matrix of probability vs impact
- Develop mitigation strategies by implementing controls based on your risk appetite
- Regularly test and record the outcomes of the effectives of any implemented controls
- Schedule risk assessments and identify deficiencies in the current mitigation strategy, and recommendations for future improvement
- Gain a detailed view of the true cost of controlling the risk versus the costs associated with the impact of the risk