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PROJECT MANAGEMENT IT Risk Management Strategies

IT risk management is the application of risk management techniques to the field of<br>information technology in order to manage the risks that come with it. Find out more from this presentation.

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PROJECT MANAGEMENT IT Risk Management Strategies

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  1. PROJECT MANAGEMENT: IT Risk Management Strategies “IT risk management is the application of risk management techniques to the field of information technology in order to manage the risks that come with it. To do so, an organisation must assess the business risks associated with the use, ownership, operation, and adoption of IT.” Educationedge

  2. IT Risk Management Strategies • Strategies are a method of identifying, accessing, and managing risks in a structured manner. They provide a method for updating and reviewing the assessment on a regular basis as things change.

  3. Apply Safeguards • This is an avoidance strategy in which a company decides to avoid risk at all costs and devotes a significant amount of resources to doing so. If you can avoid the risk, the project is no longer jeopardised. There is, however, a disadvantage to this. If you avoid the risk, you also avoid the potential return and opportunity that comes with it. As a result, it's not a decision to be taken lightly.

  4. Transfer the Risk • When a company transfers risk to another entity, this is referred to as a transference strategy. This redistribution could be to company members, an outsource entity, or a policy of insurance.

  5. Reduce the Impact • This is a risk mitigation strategy in which the company uses methodology, teams, or whatever resources it has at its disposal to reduce the risk's impact. It can involve minor adjustments, but it must always be done in accordance with a process and a strategy.

  6. Accept the Risk • This is an acceptance strategy in which you recognise and accept the risk, so that you can deal with it when and if it arises. This is sometimes unavoidable, but if you've followed the steps in your project risk assessment template, you should be fine. Want to learn more IT Risk Management Strategies? Sign up for a PMP trainingprogram at Education Edge today!

  7. About Us Strategies are a method of identifying, accessing, and managing risks in a structured manner. Here's a presentation on IT Risk Management Strategies brought to you by project management professionals at Education Edge.

  8. 8 THANKYOU! • Richard Peirce • 6476209490 • info@educationedge.ca • https://www.educationedge.ca/

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