You're reading from ISACA Certified in Risk and Information Systems Control (CRISC®) Exam Guide

Product typeBook

Published inSep 2023

PublisherPackt

ISBN-139781803236902

Edition1st Edition

Concepts

Cybersecurity

Author (1)

Shobhit Mehta

Importance of IT risk management

Now that we’ve discussed a fair bit about GRC, the domains of cybersecurity, and the NIST CSF, it is important to understand the implications of IT risk management for an organization.

In an enterprise risk management function, there can be a myriad of risks such as strategic risk, environmental risk, market risk, credit risk, operational risk, compliance risk, reputational risk, and more.

All the preceding risks can be impacted by IT risks in three major ways:

IT value enablement risk: The delivered projects did not create the expected value, leading to a loss of shareholder value and opportunities that could have materialized
IT program and project delivery risk: Projects are not ready to be delivered as agreed with the internal and external stakeholders, leading to inconsistency with the overall strategy
IT operations and service delivery risk: Delivered services are not in compliance with the SLAs agreed upon at the inception of the project

All the preceding impacts have cascading effects on other areas of the organization. An overarching governance framework implementation can prevent these risks from materializing.

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ISACA Certified in Risk and Information Systems Control (CRISC®) Exam Guide

Published in: Sep 2023Publisher: PacktISBN-13: 9781803236902

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Author (1)

Shobhit Mehta

Shobhit Mehta is the Security and Compliance Director at Headspace, an on-demand mental health company in San Francisco, CA. Previously, he worked in different facets of security and assurance with HSBC, Deutsche Bank, Credit Suisse, PayPal, and Fidelity Investments. He also works with ISACA to develop exam questions for CISA, CISM, and CGEIT, served as the technical reviewer for the CGEIT and CISA review manuals, and is a published author for the COBIT 5 journal. He completed his MS in cybersecurity at Northeastern University, Boston, and holds CRISC, CISM, CISA, CGEIT, CISSP, and CCSP certifications. In his spare time, he likes to explore the inclined trails of the Bay Area, complete ultramarathons, and blog on GRCMusings.
Read more about Shobhit Mehta

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