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CUPERTINO, Calif. -- Symantec Corp. (Nasdaq: SYMC) today released the Symantec IT Risk Management Report Volume II, revealing that awareness of the importance of IT risk management is increasing, however several myths persist. Despite the finding that practitioners are embracing a more balanced approach that encompasses security, availability, compliance and performance risks, misunderstandings of IT risk management can lead to potential IT system failures, and ultimately impact business continuity. The report also indicates process issues cause 53 percent of IT incidents, while IT often underestimates the frequency of data loss incidents.

The comprehensive report, driven by the analysis of more than 400 in-depth, structured surveys with IT professionals worldwide, identifies key issues and trends, and analyzes and dispels the following four myths commonly associated with IT risk:

• The myth that IT risk management is focused only on IT security;
• The myth that IT risk management is project driven;
• The myth that technology alone can manage IT risk;
• The myth that IT risk management has already become a formal discipline.