Risk management teams looking for additional resource information and research content to keep upper management informed about the key discipline of business continuity management (BCM) to better manage operational risk should read and review the new researched results from a report sponsored by Continuity Insights and KPMG.
The 2011-2012 Global BCM Program Benchmarking Study, which surveyed 685 executives from over 40 countries, revealed varied levels of BCM maturity across organizations and identified opportunities for improvement through deeper integration with other disciplines within that same organization.
A quick summary of other findings from this report revealed;
- Adapting BCM based approaches to address a cloud operating environment and social media considerations is widespread among the organizations surveyed (43% and 42%, respectively); however, nearly one-third of those using cloud do not have documented IT disaster recovery plans for it.
- 65% of respondents’ organizations have a full-time BCM coordinator.
- 34% of BCM programs have a high level of integration with the organization’s strategic planning capabilities, while just over half (52%) are tightly integrated with the enterprise risk management program in an organization.
- Business continuity plan exercises are by far the most widely used method to measure the performance of BCM programs (85%), followed by audit findings (62%) and BCM program reviews (60%).
- Over 38% of the respondents do not know the financial impact of a five-day disruption or outage.
While not everything in reports such as this is totally relevant to a particular company or organization, the fact remains that such reports do seem to point out at least the direction and focus of ongoing market trends to consider.
If your organization is committed to bringing and implementing a business continuity management methodology into its operations, then this report should be added to the list of reading resource materials to assist upper management’s decision process to make that happen.
Click here to read and download the full report.
If applicable please pass this along to those business continuity planning team members in your organization.