Skip to main content

Technology Risk Management

As an IT Leader you need to know the risks that your organisation faces, whether they affect the current state, or any planned strategies. You must also identify, assess and manage the risks associated with the technology in use to avoid any adverse effects on business operations and objectives.

Technology risk is wide and varied.

It can include:

  • Security risks such as data breaches, malicious cyberattacks, phishing emails and insider risk
  • Infrastructure risks such as hardware and software failure, outdated equipment and unsupported software, and IT Systems that fail to adequately support operations
  • Emerging technology risks associated with Artificial intelligence and machine learning
  • Environmental risks such as fires, cyclones or floods and its impact on risks related to ensuring the continuous availability of IT services and systems

At PTS we help enterprise IT leaders to understand the risks that they face, determine appropriate mitigation, and to implement any necessary changes. Whether it be from an organisational standpoint to determine where technology can be leveraged to mitigate business risks, or risks with the technology itself.

Technology risk is wide and varied

Technology Risk Management

Technology Risk Management Model

How we can Empower and Collaborate with you

At PTS, we empower organizations, from the boardroom to the operations centres, to embrace uncertainty with confidence, instill resilience, and foster sustainable growth. Our approach hinges on a comprehensive understanding of the risk landscape, coupled with profound industry and regulatory knowledge. We collaborate with you on strategy, implementation, and capability building, addressing every facet of your journey towards success in the following areas:

We collaborate with our clients on strategy, implementation, and capability building – addressing every facet of their journey towards success.

Information Security Risk – Safeguarding critical data and systems against cyber threats and implementing robust cybersecurity measures.

IT Infrastructure Risk –  Ensuring resilience of IT systems against disruptions—plan for continuity and rapid recovery.

Software and Application Risk – Regularly assessing and managing application vulnerabilities to prevent breaches.

Data Privacy and Compliance Risk – Securing customer data, upholding privacy regulations and reporting breaches as required.

Vendor and 3rd Party Risk – Thoroughly assessing third-party services for security and compliance to protect data.

IT Project and Change Risk – Planning IT projects with risk management in mind and ensuring changes are well-structured and aligned with strategy.

IT Governance and Strategic Risk – Integrating IT strategy into the overall governance framework, addressing potential strategic risks.

Emerging Technology Risk – Understanding APRA’s stance on emerging technologies and assess associated risks.


Technology Risk Management

Below you can see our latest thinking on the topic of Technology Risk Management. However, you may also be interested in our free checklists.

The purpose of the checklists are to help you quickly assess and score your readiness, and to highlight the areas that require immediate attention.

  • APRA CPS 231 Outsourcing Checklist
  • APRA CPS 232 Disaster Recovery Exercise Checklist
  • APRA CPS 234 Information Security Checklist

Our Resources

Technology Risk Management


Australian IT Consultants

Understanding APRA CPS Regulations and Their Significance for Regulated Entities

December 21, 2023
This paper provides an overview of the Australian Prudential Regulation Authority (APRA) prudential standards known…
Risk and Internal Audit

How PTS Streamlines the Interaction with Risk and Internal Audit Teams

November 20, 2023
Operating projects and programmes within a regulated corporate or government environment introduces additional layers of…
CPS 231 Checklist

APRA CPS 231 Outsourcing Checklist

November 3, 2023
CPS 231, also known as Prudential Standard CPS 231 Outsourcing, is an Australian Prudential Regulation…