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Prepare
for the unexpected.
Recent surveys show that only 1 in 10 companies are
prepared to respond to an unexpected event.
Failure and Disaster are
certainly going to happen. Unfortunately it's inevitable
that a building will become inaccessible, resources will
be unable to report to work, ships are delayed in
delivering products to their destination, the network
will go down, the database server will crash during
month end and an earthquake will hit just as the company
headquarters completes a move to Hong Kong.
Understanding your failure scenarios, identifying the
risks to your company, and creating a plan of action
will prevent an unexpected event from becoming a
tragedy. All down time has an impact on your company's
bottom line. However, Business Continuity Planning
could mean the difference between your company being
down for 5 minutes or 5 months.
Here are some questions
executives must be comfortable in answering to assure
their organization is prepared for the unexpected:
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Is your organization prepared
for the unexpected?
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Is your organization ready for a
disaster or an unexpected external or internal event?
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Is
your organization in the process of refreshing,
consolidating, implementing or upgrading business continuity
or disaster recovery plans?
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Has your organization
identified, assessed and continuously managed both external
and internal operational risk factors that may hinder
business continuity in the event of a disaster?
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Is your organization’s Business
Continuity Planning aligned with current business
operations, outdated, unproven, experiencing challenges, or
simply not achieving the planned goals and objectives of
your organization?
Technology infusions, rapidly
evolving processes, third-party products, organizational
changes, technology upgrades, information theft,
negative reputation and brand events, and new business
ventures can introduce unexpected disruption and
consequential risks that impact the health of your
organization. In today’s highly competitive environment,
organizations cannot afford prolonged downtime, lack of
visibility into continuity risks, slow reaction time,
expensive system upgrades, or inflexible processes.
Businesses continue to focus on maximizing each dollar
spent to increase their competitive edge and focus as
much of their budgets on innovation and high business
value efforts. As a result, Business Continuity
Management (“BCM”) often becomes a “back-burner”
priority for organizations which increase the
probability of continuity failures when the unexpected
happens.
Many executives do not have an accurate, reliable and |
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transparent view of the
“health” of their organization’s Business Continuity
readiness.
Results of recent study results of the consequence of
ineffective business continuity planning on public
company valuations:
Source:
"The impact of Catastrophes on Shareholder Value"
WGA uses a proven and client
customizable approach to evaluate the condition of your
Business Continuity Management, business and IT
continuity risks and keeping recovery requirements
current by leveraging and maximizing the value of your
Business Continuity efforts, and ensuring business
objectives are obtained and risks are mitigated. This
proven delivery methodology assures your Business
Continuity effort is achieved, at a significantly lower
cost than our competitors.
To find
out more about WGA's work
in this capability area, please
contact the practice. |
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