IT Toolkit

1. IT Risk - is the potential of losing something of value related to information technology. This might be data, software, hardware and internet connection. IT risks is definitely important because in each IT decision there is a risk involve that an IT manager should always manage to avoid critical problem for the company.

2. Risk Evaluation - ensures that IT-related risks and opportunities are well identified, analyzed and presented such as to be fully aware of what is involved.

3. Risk Governance - ensures that IT risk management practices are perfectly used in the enterprise which will ease an optimal risk adjusted return.

4. Controls: it is important because effective control reduce risks, increase the likelihood of value delivery and improve efficiency because there will be fewer errors.

5. Measurement - it is important because each enterprise need to understand its own IT system and to decide what level of management and control the enterprise should provide.

6. Assurance Planning - it is based upon a careful risk analysis in order to provide an IT assurance plan that will be risk-based and well planned to cover all sides of the enterprise. It is definitely important for an IT to master such a skill.

7. Scope - is the second stage of an IT assurance road map. It consists of defining business and IT goals for the environment under review, and identifying a set of IT process and resources. Scope is definitely important as the IT assurance plan goes, an IT manager will need to keep himself under a certain scope.

8. IT resources -  it consists of applications used by the system, information as data input, processed and output, and the people or personnel of the enterprise. A good knowledge of the IT resources of a company is definitely a good start for managing IT risk and assurance. 

9. IT processes -  defined as an action or step taken in order to achieve a particular IT goal. A knowledge on IT processes it definitely important in order to define risk and assurance in IT.

10. Execution -  involves the performing the core activities and the end deliverable is IT assurance initiative. It is important for performing testing upon the IT system.

11. Goals - defined top-down in that a business goal will determine a number of IT goals to support it. An IT goal is achieved by one process or the interaction of a number of processes. IT goal is important because it measures progress of an enterprise and motive it to achieve its desired.

12. The business orientation - It is important because it consists of linking business goals to IT goals, providing metrics and maturity models to measure their achievement, and identifying the associated responsibilities of business and IT process ownersThe business orientation: It is important because it consists of linking business goals to IT goals, providing metrics and maturity models to measure their achievement, and identifying the associated responsibilities of business and IT process owners.

13. Performance indicators - determine how well the business, IT function or IT process is performing in enabling the goals to be reached. It is important because It measure the availability of appropriate capabilities, practices and skills, and the outcome of underlying activities.

14. Pivot point- is a turn point where something change

15. Conceptual model- is a simulation model that helps user understand about the actual model look like

16.Business process- the use of money to generate more money than the amount originally spent.

17. Application Control - is a control made on applications that may affect financial report or change critical enterprise data.

18. IT Audit  - is an official inspection either internal or external to a company that has as primary objective to check to well-being of the company accounts and IT controls which commonly include IT environment, computer operations, access to program and data, program development and program changes.