M15 - IT ManagementReturn

The recent boom of ICT (Information and Communication Technology) is over. The impact of the financial crisis and the new scenarios for future development of European countries after overcoming it have formulated new requirements on the ICT sector all around the world. ICT seems to be one of the key factors for a competitive advantage within a country or a community of countries. This article offers a comparison of the development of the ICT sector in the Czech and Slovak Republics with a special accent on the human resources use in this sector and research and development expenditures. Indicators selected by the authors are compared between these two countries on the one hand and with the reality of the European Community -the average for EU 27 countries - on the other hand. Some aspects of ICT human factors are presented in this article as well as their impact on competitiveness of both the countries. The ICT effectiveness index and future possible development of the information society in these two countries are presented very briefly at the end of the paper.

The paper makes a survey of current trends in business risk management focusing on IS/IT risk management in financial institutions. Special attention is paid to frameworks and regulations available for both financial and non-financial risk management and their relation to IS/IT risk management. The relationship and common and different features between IS/IT risk management and operational risk management are discussed on the basis of a short introduction to the specifics of risk management in financial institutions. The advantages and challenges of those different frameworks are summarized together with the possibility to incorporate some IT/IS risk management tools and methods into operational risk management in practice. Basel II is the main framework covering the area of operational risk management, therefore the paper focuses on the assessment of the impact and integration of the Basel II framework with IS/IT risk management ones.