Industry analysts have made several enthusiastic projections on how cloud computing will transform the entire computing industry. According to recent research studies it is on the verge of becoming an extremely lucrative business: the financial profit to be drawn from business and productivity applications as well as related online advertising is expected to amount to billions of Dollars. However, the question arises whether there are any obstacles on the way to mature cloud computing environments. If one looks at IT outsourcing and the emerging field of cloud computing from an economic perspective, some obvious similarities between the two concepts strike the eye. In other words, already existing knowledge about the outsourcing of IT Services should be aligned with new arising obstacles and challenges created by the cloud. The objective of our paper is to support the improvement of decisionmaking processes by contributing to a better understanding of risk and compliance issues in the field of cloud computing and of their likely impacts. This can only be achieved by identifying the main risks and the necessary safeguards required. The reference model presented in this article could help to accomplish this goal.
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- Towards a Reference Model for Risk and Compliance Management of IT Services in a Cloud Computing Environment
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