Managing IT Risks in Virtual Enterprise Networks: A Proposed Governance Framework

Managing IT Risks in Virtual Enterprise Networks: A Proposed Governance Framework

Mohammad Ali Shalan (PMP, ITIL, CISA, CGEIT, Jordan)
DOI: 10.4018/978-1-61520-607-0.ch006
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Abstract

Information Technology (IT) has proven to be a critical enabler for the formation and operation of Virtual Enterprises (VEs) and a provider of unique business enabling capabilities. Nevertheless, IT integration with VE business model particularities is never a trivial task, thus calling for a special approach to discover and mitigate risks and apply controls related to the continuously growing of IT usage and support in a VE environment. The main objective of this chapter is to provide a comprehensive in depth analysis of risks and issues associated with the IT aspects of Virtual Enterprise Networks (VENs) from technical and procedural point of view and to prescribe specific guidelines to mitigate the effects of the identified and analyzed risks, processes and consequences; In that context, this chapter also aims to promote and suggest an IT risk governance framework that will address the IT risks related to Virtual Enterprises following the recent trend of organic risk management.
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Background

IT risk governance represents a fundamentally new way to conceptualize and manage IT risks especially when applied to virtual enterprise networks. Four major dimensions can be identified in literature, these being Information Technology, governance, risk management and virtual enterprises all evolving with plenty of research dedicated to each topic individually or bi-combined with another (Aven, 2008; De Haes & Grembergen, 2009; Goranson, 1999). Still, research correlating the four topics jointly is at its infancy.

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