Every Digital Transformation Needs Risk Management

In the good old days, “risk” from an IT perspective focused mainly on security. Is your network safe? Is your data secure? If a breach occurred, would you be ready to stop it? When it comes to digital transformation, however, risk is part of every decision you make—every app you choose, every cloud your data inhabits, and every customer experience you create. That’s why digital transformation needs risk management.

First things first: risk isn’t something to be afraid of. As any good investor knows, the higher the risk, the higher the potential reward. The important part of risk is being able to identify it, anticipate it and treat it. This is where many organizations today have fallen short.

You can’t read the news today without learning about some type of tech news gone wrong. The city of Anchorage, Alaska, runs $50 million over budget for SAP expenditures. The State of Oregon and Oracle file lawsuits…against each other. Company after company admitting to being hacked through various forms of technology. Not to mention the number of inventions or products that have come out in the last 5 years that have failed—Google Glass anyone? What these headlines tell me isn’t that technology isn’t working or that digital transformation isn’t worth it. It’s that companies today are rushing headlong into digital transformation without a clear idea of where things could go off course—or how to get back on track. Digital transformation needs risk management for these very reasons.

If you’re currently engaging in digital transformation in your company, pay attention. The following are a few tips to help you begin implementing risk management in your projects and—in so doing—experience greater potential success in digital transformation altogether.

This article originally appeared on forbes.com To read the full article, click here.

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