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integrated risk management (IRM)

Integrated Risk Management (IRM) is concerned with risks inherent in the integration of technologies, processes, programs, and information

in organizations and how such an organization manages the risks. In integrated risk management, risks are considered from across the organization and sustainable strategic decisions are derived for the use of supporting technologies to mitigate the risks. Integrated risk management encompasses all the business units of a company and also the supply chains of its business partners. Instead of looking at and working through the risk areas separately, as is done in traditional risk management, integrated risk management involves a holistic view of the business risks. Such a view includes the qualifiable and quantifiable business objectives and the risk mitigation measures that can be achieved with existing information technology systems

. The practices used in integrated risk management identify, analyze, and assess risks, which are then mitigated by implementing programs. The approach and appropriate means are documented and provided to the appropriate personnel. The following monitoring ensures the methodical implementation of risk minimization.

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Englisch: integrated risk management - IRM
Updated at: 28.10.2020
#Words: 242
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