IT Best PracticesProject Portfolio Management

Governance, Risk, And Compliance as a Matter of Optimization

In baseball, the difference between a line drive and a home run can be a matter of inches. Finding those small changes toward optimization is what makes a hitter into a home run hitter. Getting the most out of your governance, risk, and compliance (GRC) adheres to the same principle. Tracy Burrows writes in an article for ITWeb that many companies are already working on and building GRC without even realizing it.

Asking your company to tackle all the aspects of GRC all at once will go about as well as asking a batter to get a hit with the bases loaded, and through interviews, Burrows finds that optimization and alignment are the best way to bring about GRC in digestible chunks. There may already be programs in place or easily actionable things that can address some parts of GRC without any added fuss. Other than that, it is recommended to look for “quick wins,” places where companies can deliver the quickest value. These wins can add up in a way that provides a good foundation for GRC over time.

Burrows offers the example of a financial company who chose to start with their deficiency management processes. Since this area related to so many other parts of their business, beefing up their process there enabled greater accountability and visibility across the board, resulting in more efficiency and fostering collaboration.

To most emphasize how optimization and alignment helps, Burrows quotes Gennaro Scalo, a EMEA GRC lead:

Scalo says GRC success also requires alignment between IT and business. “Often IT is seen as a cost centre, but every organisation today relies on IT to deliver its goods and services. The closer they can align their IT infrastructure to their business needs, the greater their success will be in GRC,” he says. This enables organisations to increase productivity, foster sustainability and make better business decisions.
Never underestimate how much impact the fundamentals can have on your ability to accomplish great things. Keep the home runs in mind, but get those quick hits going. You don’t always need a home run to win the gameOp.

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