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Many companies spend millions of dollars implementing risk mitigation controls but are kept from getting their money’s worth by a disconnected, piecemeal approach. Successful risk mitigation requires that a central authority supervise controls following a coherent strategy. Related on MHA Consulting: Global Turmoil Making You Ill?
Reducing risk is at the heart of everything we do as business continuityprofessionals. Residual risk is the amount of risk that remains in an activity after mitigation controls are applied. Putting it in mathematical terms: (Inherent risk) – (the risk eliminated by your mitigation controls) = residual risk.
The wise organization develops strategies and plans to mitigate and prepare for all five types of risk. In one respect, COVID continues to distort people’s approach to risk. Today many business continuityprofessionals are worrying disproportionately about the possibility of another pandemic, to the exclusion of other threats.
Anything and everything is out there regarding how you can protect your organization and its stakeholders from disruptions and recover quickly when outages occur. A great place to get an overview of the whole BC field, from Program Administration to Exercises to Risk Management and Mitigation. Other BCM professionals.
Business continuityprofessionals who want to make their organizations more resilient should make a conscious effort to become gap hunters. Sorting out such problems can take hours if not days, an expensive proposition if the issue is prolonging an outage. This can be crippling during an outage. Unrealistic tests.
The same thing is true of organizations and business continuityprofessionals. This is the area of fundamental BC concepts and methodology, and the need for BC professionals to understand these things inside and out if they hope to have a positive impact.
Related on MHA Consulting: The Art of Explaining: MHA’s Best Crisis Communications Resources We business continuityprofessionals spend a lot of time telling our colleagues and clients about the negative impacts an organization can experience if it gives short shrift to the need to become resilient and plan for outages.
I felt the first bulletin of this year should look forward to what I see are the issues for business continuityprofessionals over the next year. Cyber attacks will continue unabated but perhaps aimed at less well-known organisations. Power outages. So, what do we have to look forward to (or not)?
I felt the first bulletin of this year should look forward to what I see are the issues for business continuityprofessionals over the next year. Cyber attacks will continue unabated but perhaps aimed at less well-known organisations. Power outages. So, what do we have to look forward to (or not)?
For the first bulletin of the year, I felt it should look forward to what I see are the issues for business continuityprofessionals over the next year. Cyber attacks will continue unabated but perhaps aimed at less well-known organisations. Power outages.
This week Charlie discusses Storm Arwen, the cycle of lessons following an incident and why business continuityprofessionals need to keep an eye on incidents at all times. I think our role as business continuityprofessionals is to keep our eye on contemporary incidents and take the time to seek out the lessons.
This week Charlie discusses Storm Arwen, the cycle of lessons following an incident and why business continuityprofessionals need to keep an eye on incidents at all times. I think our role as business continuityprofessionals is to keep our eye on contemporary incidents and take the time to seek out the lessons.
This week Charlie discusses Storm Arwen, the cycle of lessons following an incident and why business continuityprofessionals need to keep an eye on incidents at all times. I think our role as business continuityprofessionals is to keep our eye on contemporary incidents and take the time to seek out the lessons.
The Disaster Recover y Institute International ( DRII ) and the Business Continuit y Institute ( BCI ) are the two major governing bodies that are responsible for defining and developing business continuity practices as well as certifying business continuityprofessionals. manufacturing facilities).
The Disaster Recover y Institute International ( DRII ) and the Business Continuit y Institute ( BCI ) are the two major governing bodies that are responsible for defining and developing business continuity practices as well as certifying business continuityprofessionals. manufacturing facilities).
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