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Steps CFOs Should Take to Minimize Risk of IT Projects

Steps CFOs Should Take to Minimize Risk of IT Projects

With the chief financial officer role encompassing more IT responsibilities everyday - even usurping the duties of the chief information officer in some cases - finance bosses need to be able to manage the risk of IT projects.

According to CFO Magazine, this often entails working with the CIO from the very beginning, in order to not be caught by surprise when a project turns into a runaway train.

In this vein, the publication points out that communication is absolutely critical, particularly with so many different people involved in the operations. With program managers, technical leads and even independent organizations playing a role, it is the job of the CFO to ensure that everyone is on the same page and understands the potential risks.

Another important aspect that CFOs must pay attention to when dealing with IT operations is the risk of cyberattacks, which can compromise classified information and potentially shut down a business.

According to BusinessWeek, spearheading security awareness training and instructing employees to lock up company mobile devices can be crucial tasks for the finance chief.