Recent research reveals security and performance management are seen as introducing the most risk to finance and telecoms organisations respectively.

Two-fifths of finance executives surveyed by IT software vendor, Mercury Interactive thought security projects were most risky, while half from the telecoms industry were most unsure about performance management projects.

The survey, which aimed at showing what IT challenges are driving business change also found that, although the split of technology influences marked the finance and telecoms sectors’ individual requirements out from one another, the responsibility for business change through IT still often sits within the IT function.

In finance, the IT manager (32%), followed by the compliance officer (27%) or a chief risk office are in charge of IT project risk. In telecoms the split, is more fairly divided between the IT manager (46%), senior IT manager (22%) or line of business manager (24%).

The potential costs of IT project failure was the greatest fear among both industries, followed by the impact on corporate reputation and lost revenue. But the parts of the business most vulnerable to IT failure were finance (38%), customer service (37%) and new product development (32%) for financiers. And general management (33%) came out top for telecoms, followed by sales (25%) and sales (20%).

Most respondents said they are using dedicated security or project management teams to handle the potential risk and business impact of ongoing IT projects.