What is meant by outsourcing of risk?
IT Outsourcing Risk is the risk that engaging a third party, or another Group entity (intra-group outsourcing), to provide IT systems or related services adversely impacts the institution’s performance and risk management.
How can the risks of outsourcing be mitigated?
You can’t avoid all risks of outsourcing, but most of them are easy to mitigate.
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Loss of control
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Loss of control
- Ask yourself which aspects of development you are ready to delegate before the start of cooperation.
- Write a detailed management plan. …
- Manage the project together with your partner. …
- Set up proper communication channels.