The Information Commissioner’s Office (ICO) is inviting interested parties to bid to undertake a three-month research project with the aim of developing a sound business case to persuade organisations to invest in proactive privacy protection.
The completed research project, entitled The business case for investing in proactive privacy protection, will help organisations put a figure on not having proper data protection and privacy safeguards in place. The ICO wants to establish a sound economic case that will help organisations protect privacy and provide those who make expenditure decisions with a clear rationale for investing in proactive privacy protection. The report produced by the successful bidder will enable organisations to place a monetary value on information as an asset, quantify the risks of holding information, and pinpoint the financial and reputational costs should problems occur.
Jonathan Bamford, Assistant Commissioner at the ICO, said: “We are aware that one of the barriers to more proactive privacy protection within organisations is the absence of a soundly argued business case for expenditure. However, organisations can no longer afford to ignore data protection and CEOs need to wake up to the risks and responsibilities that come with vast data collection. Data protection needs to be taken as seriously as health and safety by those at the top of the corporate structure.
“It is important that this report produces a financial rationale that stands up to the scrutiny of those unfamiliar with data protection requirements or wider privacy concerns, whilst reinforcing the fact that data protection has become a matter of corporate and financial governance.”
The deadline for bids is 10.00am on 20 July 2009. Further details on the tender, including how to submit a proposal, can be found on the ICO’s website at http://www.ico.gov.uk/about_us/research/invitations_to_tender.aspx.
Source – Information Commissioner’s Office (pdf)