Perceived Risk Factors for Cloud-Based Data Storage and Control Systems: A Cross-Cultural Comparative Study of Irish and Chinese Companies

Carew, Peter J.; Lu, Qixin; Stapleton, Larry

doi:10.1016/j.ifacol.2018.11.262

Cited by 2 publications

(1 citation statement)

References 15 publications

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“…For example, some scholars consider industry 4.0 implementation risks [3] and analyse and develop risk management measures [9]. Some scientists and economists investigate risk factors [1,10] and study individual risks of technology firms [2].…”

Section: Introductionmentioning

confidence: 99%

Risks of IT technology adoption

Belanova¹

2023

E3S Web of Conf.

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Automation of technological processes and digitalisation of various spheres of the economy are among the key management tasks. The main threats and risks to development include cross-border threats and illegal use of information and telecommunication technologies, including computer attacks on the information infrastructure and means of communication. The primary task in solving problems of cyber security is introduction of domestic technologies and software products. In this article, we consider the risks of adopting new IT-technologies. Initially, the risks at each stage of project implementation and introduction of IT-technologies were identified, then the methodology of risk assessment was applied based on the determination of risk probability and degree of negative consequences realization (losses for the organization). Each risk was assessed taking into account two items. The first is the probability of risk occurrence. The second is the danger of risk or adverse consequences (losses) which arise at the organisation in case of its realisation. To determine the degree of risk of risks, 4 priority groups were allocated, the weighting values of the groups, and the risks were calculated. Subsequently, each risk was assessed and the risks of implementing new IT technologies were ranked. The research showed that the main risks of IT implementation include innovation risks, information security risks, risks connected with decrease of productivity and capacity of information systems, with changes in the project budget, miscalculations in selection of techniques, equipment, its installation, insufficient qualification of executors. The grouping of risks by stage of their occurrence showed that the risks increase and have the highest aggregate assessment at the stage of operation. Risks are managed throughout the life of the project, but the ability to manage risk decreases as the project progresses towards completion. Identifying, assessing and ranking risks is the basis for developing an effective risk management system

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