Saturday, November 26, 2022

Three Key Strategies to Prevent IT Governance Missteps

By Umme Sutarwala - July 01, 2022 3 mins read

Organizations run the danger of ceding control of what they have already accomplished as they expand. Establishing control policies that employees adhere to when a business is agile, growing, and has fewer employees is simpler. It is challenging to achieve the correct level of control, though, as companies expand and IT becomes more decentralized unless they impose governance principles on personnel. 

Everyone makes mistakes, but a CIO’s missteps can have disastrous repercussions for the instigator as well as the entire IT department and company. 

Nevertheless, despite CIOs’ best efforts, there is a nearly infinite amount of IT governance pitfalls. The following three typical errors can catch even the most cautious IT leader off guard. Therefore, it’s crucial to watch out for them. 

Not completely integrating enterprise governance and IT governance 

To satisfy a specific business demand, IT leaders usually work to finish projects as soon as possible. They might not adequately involve the governance departments for their firms, such as legal, compliance, and information risk management, in accomplishing this. 

CIOs should motivate their IT representatives to collaborate regularly with their enterprise governance colleagues to avoid a potential governance misalignment. On a tactical level, IT and enterprise governance teams should communicate with one another frequently to share information on new technologies as well as updated features for already-existing tools. The teams should also suggest and plan viable countermeasures to threats that have been identified.

There should be a uniform set of minimal restrictions that everyone agrees upon. Finally, to support IT, enterprise governance teams need to have adequate and tech-focused personnel. 

Also Read: Three Crucial Approaches to Make the CIO a Board Ally

Low risk planning

The risks associated with strategic initiatives are often not considered adequately by CIOs before they are launched. As a result, governance is included as an afterthought rather than being a crucial component of a risk management program. By then, governance frameworks are hurried, and risk mitigation strategies lose their potency. 

CIOs all too frequently push through important initiatives without fully knowing whether the system will be able to achieve its strategic goals. Risks such as technical weaknesses, poor continuity, uptime restrictions, and client rejection may result from this. The success of a strategic initiative depends on recognizing these risks early in the process and addressing them with a structured risk mitigation strategy as part of an overall governance program.

Industry experts advise putting in place an oversight program that includes risk assessment, governance requirements created to reduce controllable risks, and internal and external audit procedures to gauge the efficacy of governance requirement conformity. Moreover, a program feedback loop and a residual risk evaluation should be implemented to identify any ongoing risk exposures. 

Using data as a disposable item 

It’s no surprise that data has grown to be a highly valuable resource. Data is often the most prized asset for information-driven businesses. However, a surprising amount of companies still handle data like it’s nothing more than trash.

Data value and integrity are becoming more crucial as data increasingly influences decision-making and digital innovations automate company processes. Irrespective of their size or industry, all firms need to change the way they think about data and start treating it like an asset that is dependable, usable, accessible, and safe. In order to achieve their objectives of operational efficiency, rapid expansion, and improved customer experience, organization, and IT leaders now urgently need to maintain strong governance.

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Umme Sutarwala

Umme Sutarwala is a Global News Correspondent with OnDot Media. She is a media graduate with 2+ years of experience in content creation and management. Previously, she has worked with MNCs in the E-commerce and Finance domain

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