Dependent on the services, the following will form key components for cloud contracts. Given that contracts may vary significantly between various cloud service providers, not all of these may be captured or covered. This constitutes a typical illustrative list, as opposed to an exhaustive list: Performance measurement – how will this be performed and who is responsible for the reporting? … [Read more...] about Cloud Service Providers Risk Management: 50+ Contracts Key Components
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Cloud Service Providers Risk Management: Contract Management
A key and fundamental business activity, amplified by the significant outsourcing of roles and responsibilities, contract management requires adequate governance to be effective and relevant. In order to meet ongoing requirements, monitor contract performance, adhere to contract terms, and manage any outages, incidents, violations, or variations to contractual obligations, etc., the role of Cloud … [Read more...] about Cloud Service Providers Risk Management: Contract Management
Cloud Service Providers Risk Management: Importance of Identifying Challenges Early
It is essential that any challenges or areas that are unclear should be raised and clarified prior to engagement and signing of any contracts between the customer and provider. Why is this important? For three distinct reasons: Understanding the contractual requirements will form the organization’s baseline and checklist for the right to audit Understanding the gaps will allow the … [Read more...] about Cloud Service Providers Risk Management: Importance of Identifying Challenges Early
Cloud Service Providers Risk Management: Understanding Your Risk Exposure
What risk does this present to you or the organization? How can you address these risks with the view to understanding the risk posture? The following should form the basis in understanding the exposure (prior to any services engagement): Is the provider an established technology provider? Is this cloud service a core business of the provider? Where is the provider located? Is the … [Read more...] about Cloud Service Providers Risk Management: Understanding Your Risk Exposure
Cloud Service Providers Risk Management: Service Level Agreement (SLA)
Similar to a contract signed between a customer and cloud provider, the SLA forms possibly the most crucial and fundamental component of how security and operations will be undertaken. The SLA should also capture requirements related to compliance, best practice, and general operational activities to satisfy each of these. Within an SLA, the following contents and topics should be covered as a … [Read more...] about Cloud Service Providers Risk Management: Service Level Agreement (SLA)