Important Functions Of Information Technology

1783 WordsMay 10, 20168 Pages
Introduction One of the important functions of information technology (IT) governance is risk management, which is aimed at providing a safe atmosphere especially in Banking Sector, because IT projects are generally considered to have high degrees of risk. (Globaljournals.org, n.d.) The credit crisis and the follow-on regulatory pressure forced the principal operating officers and high-ranking management of financial services firms to focus more on risk in conjunction with the assessment, mitigation and reporting of risk. The process of shaping these risk assessments to provide the organizations with a more universal view of the enterprise risk is fundamental to understanding risk assessment. The project identified considerable IT risk in banking sector with alignment of compliance and regularities while implementing new technology or maintaining existing project and administrators view their IT risk experience, and examined these in detail. Differing internal viewpoints on IT risk, and poor alignment between IT risk Management programs and overall business objectives, may themselves create risk. This appears to occur when Risk Management programs are not tailored to the specific risk profile of the business or corresponding across functional and business unit lines prominent to areas of both under and over investment Risk assessment is a part of risk management. For most organizations, risk management is an evolving correction that goes on at disparate maturity levels
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