A successful risk management strategy requires a strong internal control environment. The risk control matrix (RCM) format emphasizes that strong and risk-oriented internal control environments are often optimized with automated/manual controls, depending on the situation.
An RCM provides an overview of different control objectives that organizations should take into consideration and the corresponding controls to safeguard the company against risks, which may arise if not checked timely. Once customized to an organization, this document can help the user in assessing each control. The control assessment can then also be summarized to develop an action plan.
This document outlines risks and controls common to data warehouse and business intelligence management during the 4.4.1 Manage Data Center Operations process in a risk control matrix (RCM) format.
Sample risks include:
Business intelligence performance is not effectively monitored, resulting in data warehouse and business intelligence management activities that do not meet the needs of end users.
Business intelligence tools are not sufficient to provide the reporting functionality required by the business.
Data is not properly processed, resulting in inefficient storage of data and data that is not fit for business intelligence use.
Data warehousing and business intelligence management architecture are not sufficient to meet the organization's business intelligence needs.
This document can be used as a sample RCM and is not meant to be an exhaustive list of risks and controls. The KnowledgeLeader team will periodically update this RCM with new content. Organizations should select, update and modify the risks and controls included in this document to ensure that it reflects business operations.