The main components of technology risk are operational risk, project risk, compliance risk, legacy risk and cybersecurity risk. Next: IT Risk
IT structures that fail to support operations or projects.
Artificial Intelligence Risks
A special category of risk associated with technologies that learn and self improve.
Asset Management Risk
Failure to control IT assets such as loss of mobile devices.
The chance that an IT audit will miss things such as security vulnerabilities or legacy risks.
Downtime of IT services.
Investments in IT that fail to achieve projected return on investment.
IT programs, projects or operations teams that go over budget. In many cases, going under budget is considered a positive risk.
Capacity management failures such as an overloaded network connection that causes inefficiencies such as process failures.
A failure to control change to complex systems including practices such as change management and configuration management.
The potential that you will violate laws or regulations.
A counterparty that fails to meet its contractual obligations to you such as violations of a service level agreement.
Loss of data that can not be restored.
Poor quality data that causes losses due to factors such as process failures, compliance issues or declining customer satisfaction.
Sub-optimal decision automation or inaccurate decision support information such as analytics.
A low quality design that results in future costs.
Risks related to facilities such as data centers.
Failures of basic services such as networks, power and computing resources.
The potential for integration of organizations, departments, processes, technology or data to fail.
Technology that is out of the date to the extent that it is difficult to maintain and at risk of failures.
The potential for technology failures to disrupt core business processes.
Risks associated with technology partners such as service providers.
Physical security related to IT such as security at data centers.
The potential for processes to be disrupted by IT failures.
Procurement 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.
The potential for new information technology related regulations.
An inability to secure resources such as skilled employees.
Security threats such as malware and hackers.
Security vulnerabilities such as weak passwords and poorly designed software.
Single Point Of Failure
A small component of a large system that brings the entire system down when it fails.
The risks associated with a particular IT strategy.
Weak technology implementations that are likely to result in future costs such as a big ball of mud.
Transaction Processing Risk
Failures of transaction processing such as ecommerce purchases.
The potential for an IT vendor to fail to meet their obligations to you.