Managing IT Risks

At a time when the importance of information and technology is obvious in every aspect of business, the need to manage more appropriate the IT risks has never been so important. IT is not just widely present in all organizations but complexly interconnected inside and outside the organization. As organizations’ dependence and interdependence on IT have increased, the consequences of IT risk have increased as well. Technology has increased the amount of data and information being processes and it has significantly impacted the control environment and business itself. IT is now a key component of the business activities in any organization. In the same time IT risk management became a key component of the corporate governance. More and more organizations are aware that an effective and efficient IT risk management is vital to their success and reputation. Securing and operating today’s complex systems is challenging and demanding. The increase of the cybercrime imposes more complex security solutions and higher costs. The present paper presents the authors research results regarding IT risk management underlying the impact of the inadequate IT risk management on the organizations’ activity, the necessity to built a global IT risk solution and manage all the risks, no matter of their nature, in a holistic approach.