ABSTRACT
This chapter highlights how risk management and governance around outsourcing initiatives can help achieve the wider strategic benefits, not just mitigate the risk of 'bad things happening'. It presents the changing perceptions about risk management and governance and the emergence of risk management as a 'matter of choice' rather than a 'matter of chance'. The chapter shows how good governance and risk management require a chain of related areas to be addressed with equal rigour. It suggests how the new breed of global organizations is taking calculated risks by outsourcing critical processes. Global trends around outsourcing and offshoring continue to emerge, just as the related perceptions and practices around risk, risk management and governance continue to evolve. Assessing the quality of governance and risk management around outsourcing is often an initial checkpoint for overseas clients prior to outsourcing information technologies or business processes to India or even establishing their Indian subsidiaries to provide back office/support services to their global organization.
