Balancing IT Budgets with Risk Management

Cost saving measures can create risk. However, IT cost saving measures can be mitigated with smart risk management strategies.
* When switching software applications, make the change while the old application license and support agreement is still in effect. Making the change when the old application license expires makes a failed software implementation followed by a roll back to the old software even more costly.
* Simulations can reveal initial failings in new software versions. Yet simulations do not find all bugs. Relying on software reports to manage simulations is doubly risky; software applications that tell you the bugs may not reveal warning pop-ups a human observer would record or record bugs that the software isn’t programmed to capture.
* Hardware, software and network management has evolved to a new level to create dashboards that show the state of the network. These applications sometimes resemble traffic flow charts, with red indicating choke points and flashing warnings where an accident or artery shut down has occurred. Yet the traffic model fails in some regards, since hack attacks are akin to a tank rolling the wrong way on the highway, shutting it down at worst before looting of cars (data packets) occur and slowing traffic at best. Rapid evolution of attack strategies can leave these monitoring applications an incomplete method of managing networks. Replacing a set of monitoring software in favor of a master monitoring application should be balanced against security needs and security monitoring capability. Verify the functions you need against the functions the new application has, and keep existing software that fills in the gaps over buying a third application to replace the old and interface with the new.
* Look into add on modules to existing applications instead of buying new software to gain functionality. Add-on modules and companion applications are plug and play with your existing software suite and may be available for a discount compared to buying new software applications.