IT Service Management Risks

IT Service Management is essential for supporting, handling, producing, and delivering the various steps and processes of IT services. ITSM is essential for conserving the cost of the business or organization in order to achieve success without any wastage of money. It is extremely beneficial for the organization as it helps in the decision-making process. ITSM completely emphasizes on delivering products which meet the requirements and needs of the customers. Information Technology Infrastructure Library ITIL helps in the utilization of best practices for IT Service Management, which emphases the orientation of IT services with the requirements of the organization.

 

The demand for IT Service Management (ITSM) is rapidly increasing each day across numerous industries. If there’s a mistake or a fall in the performance quality by managers, it can affect the entire outcome. Professionalism is much needed in order to acquire success.

 

Problem Management and Information Security

 

The IT sector emphasizes the importance of the customers; it fulfills each and every possible requirement and needs of the customers. As the information is exposed to the internet, it faces the possibility of a huge range of risks. This leads to the need for the Information Security sector. It will then be analyzed on its integrity, confidentiality, availability, and authenticity. The information security policy is then drafted and represented to the stakeholders. The draft includes the steps and facilities which can enhance the safety and security measures. This provides a guarantee to the customers that the website is entirely secured for them to utilize. The numerous other roles of the IT Security sectors are auditing risks, security patches, and change tracking. They also work in order to identify and locate the root cause in order to find a solution to the problem. 

 

Process of Risk Management

 

The most important part of the risk management process is locating, assessing, and managing or handling risks that have already been identified with the utilization of a risk matrix. It includes analyzing the assets of the business or organization and checking or monitoring the system continuously for any suspicious activities, and identifying the vulnerabilities of the business or organization to threats or harm. Their several stages included in this process, such as:

 

• Locating and Characterizing the risk or threat

 

• Locating the vulnerable areas of important assets

 

• Determining the possibility of threat and its impact

 

• Find solutions to minimize the risk.

 

• Risk minimization or reduction must be prioritized.

 

• Threat factors should be monitored continuously.

 

 

The Sub-Processes of Risk Management

 

These steps are also included in the process of risk management:

 

1. Support of Risk Management: It contains a detailed explanation of how to locate a risk, the level of the risk, and the responsibilities which are carried out by the employees in the IT sector. 

 

2.      Impact of business and Analysis of the risk: Another step is to measure the risk and its impact or damage on the business or organization and defining the vulnerability of the risk that occurred.

 

3.      Risk mitigation Assessment: Identifying the required measures for risk mitigation and a Risk Owner is then allocated to the identified risk.  

 

4.      Monitoring Risk: The continuous check or monitoring of risk in order to check for any suspicious activities and prevent the risk when possible. It is also used to monitor the implemented measures or solutions of risk management so that any error or fault in the measure can be corrected right away.

 

 

Plan-Do-Check-Act or PDSA cycle is utilized to gain knowledge and skills in order to enhance the quality of the product, process, and performance. It also helps in the process of risk management. This cycle is also named as the Deming Wheel and also the Deming Cycle. The four phases of the PDSA Cycle are:

·         Plan: It is the step for locating and analyzing the occurrence of the issue.

·         Do: This step refers to the development and testing of a possible solution for the issue.

·         Check: In this step, the effectiveness of the solution of the last step or phase is measured and analyzed in order to enhance or improve it.

·         Act: The final step or phase refers to the implementation of the completely developed or improved/enhanced solution.

 

Risk Management is a crucial part of ITSM as there is always a possibility of risk or threat to the system, which should always be kept under check as a simple mistake or risk can lead to the failure of the business or organization.  

 

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