Digital technology presents its own unique set of challenges to an organization. Creating a digital governance framework can help address those concerns. In this session at RIMS 2019 Conference and Exhibition, Genevieve Grabman, author of The Technology Takers, explained the ability of such a framework to establish responsibility for policies and procedures and monitor compliance.
There is no low-risk option when it comes to modern technology, but refusing to adopt new technologies presents its own business risk. The solution to this dilemma is creating a comprehensive governance framework. An effective framework addresses technology, people and process. Digital-era risks include government investigation, value loss and reputational loss and recovery costs. The only way to mitigate these risks is to create an effective governance plan.
Governance is ensured through:
- Mission clarity – The mission guides an organization’s decisions.
- Framework – There should be one structure throughout the entire organization structure, not just the IT department.
- Managerial responsibility – Managers are responsible for ensuring accuracy and adherence to policies in their specific areas.
- Compliance – Policies are meaningless if they are not enforced.
Communication across the organization is critical to the success of a good governance program. A mistake in one arm of the program can affect all other parts of the program. Applying a risk management approach to governance is also key. Using a risk management approach can create a shared sense of purpose across the organization, maximizing the chance of adoption and success.