While IT risk management can assist in deterring threats from your business, there can still be limitations to what you can accomplish. Therefore it is extremely important to know both the strengths and weaknesses of any system present in your business. Here are 5 limitations to IT risk management that you should prepare for:Accidents Are Inevitable
Risk will always exist when resources are used, especially in vulnerable locations. Sadly, the only way to erase risks from your business is to stop working entirely. Even the best risk management system cannot stop any natural disasters or human errors from occurring.
Excessive Focus On Security Leads To Low Productivity
There is a point where risk management becomes more of a hindrance than an asset to your business. Too much security can prevent your employees from doing their job efficiently or may even infringe on their basic human right of privacy. If an employee needs to go through layer upon layer of security to do their job, they are potentially losing valuable working hours as well as taking on unnecessary stress.
Improper Management Leads To More Loss
Handling a crisis poorly can often lead to more problems within the workplace. IT risk management can help you make an informed decision, however it cannot make the decision for you. A wrong move could potentially lead to unnecessary loss of manpower, information or reputation with consumers and stakeholders. Even with a system in place, it is always a good idea to consider the situation carefully before making a decision.
Inability To Anticipate The Unexpected
Risk management is based on the knowledge of those who enforce it. It takes into account all incidents that have happened in the past - both yours and the experiences of other businesses. If something were to occur that has never happened before, then there is no way of knowing how to prevent it.
Growing Complexity Of Technology
Technology is advancing at such an alarming rate. As computers become more and more intricate, so does the knowledge necessary to effectively harness such technology. What works in maintaining a computer now may become obsolete in just a few years’ time.
Remember that technology can be a double-edged sword. Advances in technology benefits everyone and that includes hackers, virus programmers, and other people that could potentially harm your company.
IT risk management allows you to effectively control this tool, offering many benefits that would certainly help your company grow further. Having contingency plans and IT strategies in place is the best way to protect your assets while keeping the best interests of your customers, stakeholders, employees and yourself at heart.
Find out more about the limitations and other aspects of IT risk management. Download our FREE eBook on the IT Pillar to learn everything you need to know about the fundamentals of IT in your workplace.