IT Risk Decision

Lets Learn How to Make IT Risk Decision

To effectively communicate an IT risk decision to an asset owner, follow these steps:

1. Explain the potential impacts of the IT risk using ordinary business language, emphasizing financial implications or degraded metrics relevant to the asset owner’s area of responsibility if the risk materializes.
2. Present the available risk treatment options along with the associated costs required to reduce the risk within the organization’s risk tolerance.
3. If suggesting controlling the risk, propose one or more mitigations that provide minimum viable capability to reduce the risk while minimizing implementation and operational costs.
4. Use a concrete example to illustrate the risk decision process, highlighting the specific risk and its potential consequences, such as sales delays due to a ransomware infection.
5. Propose a specific risk mitigation strategy, such as the “3–2–1 strategy” for data backup, which involves keeping multiple copies of data, including one offline for protection against ransomware.
6. Offer to handle the implementation details and seek feedback from the asset owner to ensure alignment with their needs and preferences.