Risk Management

IT risk management is a process performed by IT managers to enable them to offset the economic and operational costs associated with using protective measures to achieve nominal capacity gains by protecting data and information systems that support the operation of an organization. Risk is defined as the product of the probability of occurrence and possible impact, but in IT it is defined as the product of the value of the asset, the vulnerability of the system to this risk and the threat to which it poses the organization.

IT risks are managed according to the following steps:

  • Assessment: Each risk is discovered and its severity is assessed
  • Mitigation: Countermeasures are implemented to reduce the impact of certain risks Assessment and
  • Cost Assessment: At the end of a project, the effectiveness of each countermeasure (along with cost effectiveness) and based on the results, actions are taken to improve, change, or keep up with current plans.
  • Scope

The project scope is the part of project planning in which a list of project-specific goals, services, tasks, costs and schedules is defined and documented. It explains the project boundaries, defines responsibilities for each team member, and sets out procedures for reviewing and approving completed work. During the project, this documentation helps the project team to stay focused and on the task. Provides guidelines for the team in making decisions about change requests during the project.

The operating declaration must not be confused with its statutes; The statutes of a project only document that the project exists. Big projects change over time. When a project has been effectively “narrowed down” at the beginning, these changes are easier to approve and manage. When documenting the scope of a project, those involved should be as specific as possible to avoid the scope slipping. Scope is a situation where one or more parts of a project require more work, time, or effort due to poor planning or miscommunication, the likelihood of occurrence, and the potential impact.

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