Enterprise Risk & Data Center Governance for Industry 4.0
Keywords:
Enterprise Risk Management (ERM), Industry 4.0 Risk Systems, Data Center Governance, Cyber-Physical Risk Management, IT-OT Integration, Digital Risk Transformation, Data Quality Governance, Data Stewardship Models, Risk Analytics Frameworks, Operational Risk Management, Industrial Data Governance, Risk-Based Decision Systems, Integrated Risk Frameworks, Manufacturing Risk Analytics, Cloud-Integrated Risk Systems, Strategic Risk Governance, Layered Governance Models, Industrial Cybersecurity, Data-Driven Risk Management, Industry 4.0 Governance.Abstract
Digital transitions are revolutionising industrial processes and services offered. The new arrangements introduce new risks across the entire value chain domain from planning to supply, production and delivery of services. State-of-the-art Enterprise Risk Management (ERM) provides the necessary elements to cover risk domains associated to cyber-physical systems interconnected by the operating technology in concert with Information Technology under Industry 4.0 paradigms Control mechanisms from ERM needs new support structure provided by the Data Centre Governance principles, in particular those linked to data quality, security, privacy and stewardship, for a coherent data preparation and management able to deliver the correct and timely analytics supporting the decision making.
The effort synthesises the integrated Enterprise Risk and the Data Centre Governance Framework, integrated with data quality requirements, applying the two best practice domains to the Industry 4.0 era. The underlying concept defined a layer governance structure able to cover day-to-day operate in the production/service delivery sites and the strategic management levels for the application to any organisation supporting the integrated risk management approach. The set of guiding principles is outlined consequently. Grounding elements are drawn from literature sources, the originals support description from the Centre for Internet Security, the Industrial Internet Consortium guiding principles and recommendations, five case studies of Industry 4.0 environments for Manufacturing and the integration of cloud technologies in data centres. The resulting work delivers an integrated structure capable to capture coherent data from the production/service area and to deliver the correct analytics behind the ERM risk management for any Industry 4.0 context.
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