New regulations and threats are broadening the definition of risk and heightening the interest in enterprisewide management approaches
Risk management isn't new. "Businesses are always choosing what to do, how to spend their money, making decisions on ROI and so forth, all while knowing these decisions carry risks," says Fred Cohen, principal analyst in security and risk management strategies at Burton Group.
What has changed in recent years are regulations and best-practices standards that require better risk management. Also new are the types of risk being managed, particularly threats related to technology and information security. As a result, risk analysis and management are pervading the enterprise, and technologies associated with risk management — embedded anywhere from in-process workflow to post-process business intelligence applications — are increasingly important to put information in the hands of people who can act on it.
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