Definition of Business Risk
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36 Types of Technology Risk
John Spacey, updated on April 26, 2016
Information technology risk is the potential for technology shortfalls to result in losses. This includes the potential for project failures, operational problems and information security incidents. The following are common types of IT risk.
Architecture RiskIT structures that fail to support operations or projects.
Artificial Intelligence RisksA special category of risk associated with technologies that learn and self improve.
Asset Management RiskFailure to control IT assets such as loss of mobile devices.
Audit RiskThe chance that an IT audit will miss things such as security vulnerabilities or legacy risks.
AvailabilityDowntime of IT services.
Benefit ShortfallInvestments in IT that fail to achieve projected return on investment.
Budget RiskIT programs, projects or operations teams that go over budget. In many cases, going under budget is considered a positive risk.
CapacityCapacity management failures such as an overloaded network connection that causes inefficiencies such as process failures.
Change ControlA failure to control change to complex systems including practices such as change management and configuration management.
Compliance ViolationsThe potential that you will violate laws or regulations.
Contract RiskA counterparty that fails to meet its contractual obligations to you such as violations of a service level agreement.
Data LossLoss of data that can not be restored.
Data QualityPoor quality data that causes losses due to factors such as process failures, compliance issues or declining customer satisfaction.
Decision QualitySub-optimal decision automation or inaccurate decision support information such as analytics.
Design DebtA low quality design that results in future costs.
Facility RiskRisks related to facilities such as data centers.
Infrastructure RiskFailures of basic services such as networks, power and computing resources.
Innovation RiskA special category of risk associated with experimentation and aggressive rates of change. Typically requires novel approaches to risk management such as designing activities to fail well.
Integration RiskThe potential for integration of organizations, departments, processes, technology or data to fail.
Legacy TechnologyTechnology that is out of the date to the extent that it is difficult to maintain and at risk of failures.
Operational RiskThe potential for technology failures to disrupt core business processes.
Partner RiskRisks associated with technology partners such as service providers.
Physical SecurityPhysical security related to IT such as security at data centers.
Process RiskThe potential for processes to be disrupted by IT failures.
Procurement RiskProcurement is the purchasing of services, products and resources. It is prone to a number of risks including the chance of fraud, cost and quality issues.
Project RiskIn many cases, IT projects have a high rate of failure due to a number of risk factors such as scope creep, estimation errors and resistance to change.
Quality RiskFailures of quality assurance and other quality related practices such as service management.
Regulatory RiskThe potential for new information technology related regulations.
Resource RiskAn inability to secure resources such as skilled employees.
Security ThreatsSecurity threats such as malware and hackers.
Security VulnerabilitiesSecurity vulnerabilities such as weak passwords and poorly designed software.
Single Point Of FailureA small component of a large system that brings the entire system down when it fails.
Strategy RiskThe risks associated with a particular IT strategy.
Technical DebtWeak technology implementations that are likely to result in future costs such as a big ball of mud.
Transaction Processing RiskFailures of transaction processing such as ecommerce purchases.
Vendor RiskThe potential for an IT vendor to fail to meet their obligations to you.
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