Forrester IT Forum: Open standards key to managing risk

In an increasingly risky world where pressure is coming at IT decision makers from all angles, companies are starting to take technology risk management and governance programmes more seriously, but they need to take one step at a time rather than trying to "boil the ocean," according to a senior executive from IBM Global Services.

Globalisation is also changing the face of business and adding to the need for chief executive officers (CEOs) to better understand the impact that IT governance has on business performance, Jeanine Cotter, vice president of IT services and architecture at IBM Global Services told delegates in her keynote address at Forrester Research's IT Forum EMEA 2007 in Edinburgh this afternoon.

"Most companies are beginning to think about IT risk and governance programmes. Even if they're not a large multinational company they are still operating in a multinational environment," she said.

"As a CEO today, the challenges you face are a lot more different than the challenges your predecessors faces. It's about increasing revenue as well as increasing client satisfaction and asset utilisation while continuing to cut costs... It is no longer acceptable to find [a problem] and fix it fast; you have to prevent it from happening in the first place."

However, despite the bleak challenges facing business leaders as they try and swim towards success against the tide of failure, there is hope for those who successfully get it right in this area, Cotter added.

"Don't fear. You can overcome many of these challenges. There are many examples that show when companies do focus on risk management and governance they do see it in their results," she said.

"But, we don't recommend boiling the ocean. You can't boil the ocean. You need to start with the priorities your company has. We can help you with services and software but you need an underlying framework so that these things integrate together."

Cotter also said that IBM - which is beefing up its offerings in the area of risk management and governance by opening a centre of excellence as well as enhancing its software and service portfolios - is advocating the use of standards to help ensure success.

She added: "It gives you a common language to work with all partners, suppliers and outsourcers to jointly agree the common objectives you share and also provides a benchmark on what the right thing to do is."

Email to a friend

Print this page

Social Bookmark this article: What is this?

Digg

Delicious

Reddit

StumbleUpon

Slashdot

Google

Facebook