Gartner Research

Governance, Risk, and Compliance

Published: 12 March 2008

ID: G00203489

Analyst(s): Bob Blakley

Summary

"GRC" is a hot marketing buzz phrase, but "GRC" is not a market category. Governance, risk management, and compliance are three separate but related activities, each of which is somewhat dysfunctional in most organizations today. In this overview, Principal Analyst Bob Blakley discusses the goals of governance, risk management, and compliance; surveys supporting tools and management disciplines which support governance, risk management, and compliance processes; and offers a few recommendations for increasing the effectiveness of governance, risk management, and compliance programs.

Table Of Contents

Synopsis

Analysis

  • Governance
  • Risk Management
    • Loss Reduction vs. Value Creation
    • Reforming Risk Management
  • Regulation
  • Compliance
    • Reforming Compliance
  • Governance
  • Governance Goals and Tasks
    • Goals of Governance
    • Reforming Governance
    • Organizational Support for Governance
  • Recommendations
    • Implement Roundtrip Management
    • Focus Governance on Value Creation and Organizational Transparency
    • Reorient Compliance to Balance Liability Limitation with Loss Limitation
    • Reorient Risk Management to Balance Loss Limitation with Value Creation
    • Choose Tools Based on Tool Users' Needs
    • Insist on Clarity from Vendors

The Details

  • Technologies Supporting Governance, Risk Management, and Compliance
  • Data Governance and Information Governance
  • The Data Governance Council Model
    • Deficiencies of Risk Management Tools
    • Deficiencies of Compliance Tools
    • Vague Focus of “GRC Tools”
  • Success Stories

Conclusion

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