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Information is a company asset. And the technology infrastructure that supports it is an invaluable resource. But many boards still find themselves discussing IT only when one of two things happens:
- approval is needed to fund a technology-related expenditure
- they are reacting to a technology-related incident
IT is an essential element in today’s business environment, and directors must provide effective governance when it comes to the much broader business implications of information technology.
Examine the key issues
In 20 Questions Directors Should Ask about IT, Gary Baker, an independent IT governance consultant, offers a practical resource for directors. It encourages you not to get lost in the technical detail of IT decisions but ensure that you understand:
- the role of the board in IT
- what the information asset strategy is and how it will help capture value
- how to oversee the information asset
- how to manage IT risks
Asking the right questions
Whether your company relies on IT to simply operate smoothly, or whether your IT is a key competitive advantage for new service models or products, this resource provides guidance for directors to ask the right questions, such as:
- What is the strategic importance of your IT assets to the company?
- What do you know about the value of your information assets?
- Should you create an IT oversight committee?
- What steps have you taken to safeguard information integrity?
- What succession planning has been done for key IT personnel?