IT collapse is top fear

The Economist Intelligence Unit has released a report Coming to grips with IT risk, a report sponsored by SAP. There is a summary here.

According to the report companies fear the collapse of their IT systems more than terrorism, natural disasters, financial risk or regulatory constraints, yet the majority do not manage IT risk effectively.

The problem seems to be that IT systems (read ERP and other integrated apps) are getting more complex, and complexity increases the risk of IT failure. However, managers still view IT risk in terms of security.

Other findings include:

  • Poor project management is the most common source of IT project failure – a particular concern in Europe.
  • Scope creep is a  problem – which would be avoided by better project management.
  • Senior business management does not understand IT issues adequately. 
  • IT risk will increase in the next three years.

Isn’t this an area where the GRC (governance, risk, compliance) people should be looking?

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s