Risk Management is evaluating and forecasting the potential threats, and then identifying and employing the necessary steps to cope with the damages and the negative impact. Once a threat is identified before it starts affecting what is protected, Risk Management deals with the process to come up with solutions to avoid it. So, Risk Management is an overall process of forecasting and dealing with the threats for something valuable.
IT Risk Management is the specified type of Risk Management for the IT sector. IT Risk Management refers to the comprehensive process of evaluating the risks for each and every part of an IT structure. It could deal with systems or data, as macro-level Risk Management, or with software applications used in a company, rather functioning as micro-level Risk Management. Here, find more info about IT infrastructure.
In either case, Risk Management is extremely important for the IT departments in companies. If employed insufficiently or badly, the business processes of companies might have a hard time continuing working effectively. Outside threats like hacking and inside threats like complex IT landscape or malfunctions should be addressed by Risk Management to ensure a flawless running business.
Enterprise Architecture is designing the business steps, departments, organizational schema of a company in a standardized way to make business more manageable. It helps businesses gain visibility by carefully analyzing and identifying how an enterprise is structured with all those different parts. So, Enterprise Architecture is making the integral segments of the organizational structure of a company visible and traceable.
Not only to the departments, Enterprise Architecture may also refer to the management of applications, events, or technologies. It depends on the scope a company prefers for its Enterprise Architecture. Different domains of Enterprise Architecture could be as follows.
Enterprise Architect is the business position responsible for the conducting of Enterprise Architecture in a company. They deal with how technology is used in a company to further optimize the alignment of all the parts in the company. Enterprise Architects might have different job descriptions and tasks from sector to sector, or from business to business. Learn more about Enterprise Architect here.
In a visible company, potential threats and risks can be identified more easily. Understanding which applications are having chronic malfunctions, identifying which departments are running less efficiently, and evaluating the overall profitability of the enterprise can be done thanks to the visible environment Enterprise Architecture brings about. Naturally, identifying and evaluating the potential threats facilitate in such an environment.
So, here are some of the benefits Enterprise Architecture offers in order to conduct more efficient Risk Management:
Application Portfolio Management (APM) is a framework for managing and evaluating the software applications in a company’s portfolio. With the APM approach, all software is accounted for and analyzed for its efficiency and real business value. This way, the Application Architecture of a company can be evaluated with grounded data. There are a couple more ways Application Portfolio Management helps Enterprise Architecture (and Risk Management, directly or indirectly depending on the situation).
Cloud cost optimization, also known as cloud computing cost optimization, is a method of identifying and evaluating optimal choices of services.
Automation is essential for automating IT strategies. This is a simple process and provides huge business benefits.
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