Business leaders are on the counterattack. An
increasing number of projects focus on building
robust data defenses: From 2012 to 2013, spending on IT security increased 51 percent, according
to the PwC survey. ;ere’s another clear indicator
that cybersecurity has business leaders’ attention:
the increased budget share devoted to data-security
initiatives. ;e percentage of the average IT budget
earmarked for security jumped 8. 5 percent last year—
from 4. 7 percent to 5. 1 percent, according to Gartner.
Worldwide, data-security spending will jump 8. 6 percent this year to US$72.6 billion, Gartner forecasts.
As project practitioners spearhead initiatives to
fend o; cyberattacks, their methods must be just as
sophisticated as those of the hackers.
“A project manager responsible for rolling out
a software system has to think about more than
just how to use the system or what it can do,” says
Kelly Bissell, global cybersecurity leader, Deloitte,
a PMI Global Executive Council member. “You
Globally, the number of cyberattacks increased
25 percent last year, according to PwC. Four of
the 10 largest data breaches in the history of the
Internet, exposing 823 million records, occurred
just last year, according to the Open Security
Foundation and Risk Based Security. ;at’s about
one-third of the total number of records ever com-
promised—in only 12 months.
“It’s no longer a matter of if your cybersecurity
defenses will be compromised at some level—it’s
when,” says Bradley J. Schaufenbuel, PMP, director of information security at Midland States Bank,
E;ngham, Illinois, USA.
;e onslaught of attacks carries a hefty price
tag. ;e annual cost of cyberattacks globally ranges
from US$80 billion to US$400 billion, according
to the Center for Strategic and International Studies. In 2012, breaches cost the a;ected companies
in the United States an average of US$5.4 million
each; Germany, US$4.8 million; Australia, US$4.1
million; and England, US$3.1 million, according to
a Ponemon Institute report.
As they’ve ramped
up their efforts, organizations worldwide are bolstering
their defenses with data-security initiatives. Project prac-
titioners thus ;nd themselves on the front lines of a pro-
tracted battle, and the risks are only getting higher.
are on the