Survey: Tech execs split on benefits of cloud computing

Rolling Meadows, Ill. IT executives are not yet sold on the benefits of cloud computing, according to the first annual ISACA IT Risk/Reward Barometer survey. Close to half of the IT managers polled by ISACA say that that the risks of cloud computing outweigh the benefits.

The survey found that only 10% of respondents’ organizations plan to use cloud computing for mission-critical IT services and one in four (26%) do not plan to use it for any IT services.

Consistent with this attitude is the appetite for overall IT-related risk in 2010. In the face of continued economic uncertainty and despite the potential to drive greater rewards, more than three-quarters of those surveyed believe that projects should offer the same or lower level of risk in 2010. Similarly, 79% will invest the same amount or only slightly more in risk management and compliance in 2010.

“The cloud represents a major change in how computing resources will be utilized, so it’s not surprising that IT professionals have concerns about risk vs. reward trade-offs,” says Robert Stroud, international VP of ISACA, a Rolling Meadows, Ill.-based IT and IT-related risk and compliance educational group.

The online survey of about 1,800 IT managers also gauged organizations’ attitudes and behaviors related to IT risk management. According to IT professionals, only 22% of organizations are very effective at integrating IT risk management with their overall business risk management. The most common reason for practicing IT risk management was regulatory compliance (28%) versus business drivers such as improving the balance of risk taking with risk avoidance to improve return (8%).

The risks and rewards of cloud computing are examined in the ISACA white paper, "Cloud Computing: Business Benefits with Security, Governance and Assurance Perspectives." The paper is a collaboration between ISACA and the Cloud Security Alliance and is available as a free download at isaca.org/cloud.