title: Managing system risk
abstract: Companies are increasingly required to provide assurance that their systems are secure and conform to commercial security standards. Senior business managers are ultimately responsible for the security of their corporate systems and for the implications in the event of a failure. Businesses will be exposed to unquantified security risks unless they have a formal risk management framework in place to enable risks to be identified, evaluated and managed. Failure to assess and manage risks can lead to a business suffering serious financial impacts, commercial embarrassment and fines or sanctions from regulators. This is both a key responsibility and opportunity for Management Services Practitioners
keyphrases: commercial security standards risk management framework IT projects