How should a company decide which IT risks are worth taking? How do you decide how much to spend to mitigate the risks you’ve opted to take?
A: The CEO does not need a massive amount of very detailed information to sift through, he needs a brief and easily identifiable way of viewing the risk to spending breakdown. This risk and cost examination clearly demonstrated that there are a number of risks with actions that will take little to no cost to address. The discussion Barton and Williams had while reviewing these risks and costs also drove home the point that there are risks that are unidentifiable despite the amount of initial spending.
The point is that there is a clear need for some spending on IT features to boost security measures. However, it is not necessary for an abundance of spending to take place because most times the real risks, are ones that occur despite what level of spending an entity makes on security. So, the spending on IT and security should not be brushed off and given a small budget. An adequate, but reasonable, budget should be pursued without overspending.
Why should a CIO pursue senior management participation and oversight when managing IT risk?
A: Top down support can make any project move smoothly.Top down approval and involvement in the case of IT management and spending will only make progress to be made even quicker. Quick action is essential to IT functions. The field of IT moves too fast and a business cannot afford to waste time with internal delays or waiting for upper management approval to move forward. Proper upper management involvement can be vital to IT success given the time sensitive nature of the IT world.
Would Barton make a good next CEO for IVK? In what ways might he differ from past leadership?
A:Barton has already demonstrated that he has strong management skills and that he knows who to turn to for help when he needs it. He has a gift for surrounding him with people who help him make adequately informed, smart and appropriate decisions. Barton could make a very effective CEO for IVK because of his now gained IT leadership experience. He also has the balanced management skills to IT knowledge ratio.
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