Technology Risk Quantification Will Play a Critical Role in Effectively Managing the Risk that Comes Along with Transformation Initiatives

"For most organizations, the introduction of new systems and platforms will not completely replace legacy technologies and infrastructures. As a result, executives will be left to manage an increasingly complex environment that is constantly evolving."
By: BizTechReports
 
Luke Nelson, KPMG
Luke Nelson, KPMG
SILVER SPRING, Md. - Nov. 5, 2020 - PRLog -- As organizations across geographies and industries accelerate the deployment of business transformation initiatives, a growing number of executives are exploring how risk quantification can be harnessed to optimize new investments in systems, applications and infrastructures to achieve mission-critical objectives in a safe and secure manner. So says Luke Nelson, Managing Director of Technology Risk Management at KPMG LLP in a thought leadership interview with BizTechReports (www.biztechreports.com).

"For most organizations, the introduction of new systems and platforms will not completely replace legacy technologies and infrastructures. As a result, executives will be left to manage an increasingly complex environment that is constantly evolving," says Nelson.

This growing complexity will trigger a rise in the threat, risk and vulnerability landscape. That is why understanding key dependencies, single points of failure and other factors is so important. It is an issue that will not only require executive attention from the most senior ranks of organizations, but also a much more comprehensive approach to assessing the variables that can potentially harm organizations as they aggressively modernize their enterprise technology estates.

"There are two main questions on which executives need insight: How much potential loss do I have with my current risk profile? And how can I reduce future risk to decrease potential loss most efficiently while increasing the potential for greater returns on investment?" explains Nelson.

Incorporating a New Level of Discipline to Technology Risk

"Technology risk mitigation has often been more of an art than a science. Historically, risk managers and security professionals have identified threats and vulnerabilities and then applied their own experience and expertise to determine what, when and how to take the steps to mitigate them," explains Nelson.

Until now, this approach has really been their only option. This is because there has been no systematic way of fully understanding the consequence of an exploitation unless it has occurred before and relationships, dependencies and mitigation importance are known. Few resources have been available to help decision makers understand the full implications of a vulnerability before it plays out.

To read the full interview or listen to the podcast with Luke Nelson, visit:

https://www.biztechreports.com/news-archive/2020/10/30/technology-risk...


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