Business Continuity Management
In a Deloitte survey of information gathered from the top 1000 global organisations over a 10 year period, almost half of them suffered share price declines of more than 20% within one month. Some of the greatest losses, were caused by exceptional events such as the Asian financial crisis, the bursting of the technology bubble, and the September 11th terrorist attacks. Yet many firms apparently fail to plan for these rare but high-impact risks. ( “ Disarming the Value Killers”, a research paper by Deloitte)
The business case for Business Continuity Management ( BCM), is thus self evident. BCM is about much more than backing up data to tapes and restoring from these tapes, in fact it is about ensuring that your products and services of your business, is available to clients, even when your business is in the midst of an unplanned disruption. Furthermore, it is about having a competitive advantage because you have planned for the high impact, low likelihood risks.
If you believe that your business may never be affected by a business disruption, I challenge you to consider three events which occurred within the first 6 months of this year; namely;
- The Volcanic Ash,
- Toyota’s recall of its vehicles, and
- BP Oil Spill.
All three the events could have been pegged as highly unlikely a year ago, but with serious impacts should it occur. And as can be seen from various news articles, these three events have had negative impacts to share prices, exports and imports, law suits, loss of human life and reputational loss. At Deloitte we assist our clients to plan for the low likelihood high impact risks through our various Business Continuity Management services.
Our BCM Methodology is based on a BETH3 (Buildings, Equipment, Technology, Human Resources and Third parties) approach and is aligned to the international standard for BCM, BS25999, as well as the Business Continuity Institute’s Good Practice Guidelines.
Our services include:
BCM Implementations, which could either be a full or partial implementation depending on client needs. The implementations include:
- Current state assessments,
- Business Impact Analysis,
- Operational Risk Assessments,
- BCM/IT Service Continuity strategies,
- Business Continuity Plans,
- IT Continuity Plans, and
- Testing and Exercising.
For those clients who know that pockets of BCM exist within their organisation, but are not quite sure what, we offer our BCM reviews known as BCM Healthchecks or Current State Assessments.
Many clients require additional resources to assist with the maintenance or implementation of BCM. At Deloitte our certified BCM experts, can supplement your team to ensure that BCM is driven to accomplish its goals and that it is effectively maintained. This service is known as our co-sourcing or outsourcing agreements.
Lastly, we know that skilling your employees is as important to you as it is to most organisations therefore we offer BCM training. We do these courses either on site, or through our School of Risk Management depending on your preference.
Download the "Disarming the value killers" to read more about why organisations suffer value losses.