The risk matrix is a standard tool commonly used in risk assessments. It’s straightforward to use, and easy to explain. The only trouble is, the risk matrix doesn’t actually forecast or measure risk.
When used as a quantitative tool, the risk matrix is misunderstood. Our challenge as practitioners is to recognize the limitations of the risk matrix, so we can use it in a way that increases understanding of the threats around us. In this eBook, we explore how.
Many of us business continuity management (BCM) professionals are convinced that a business impact analysis (BIA) is a “must-have” for any company. On top of that, we often believe the more information we gather, the better. But after the enormous effort to collect mountains of data and conduct endless interviews, we end up with little value to show for it.
Doing a BIA is expected of us, but do companies actually need a BIA? I guarantee that conducting an extensive BIA project is a quick way to exhaust your resources, stall your program agenda, and taint the reputation of your program. But if you’re willing to question why you’re doing a BIA, and then facilitate the process in a practical way for participants, you can maximize your investment. This eBook explores how to do this, and why it matters.
As BCM professionals, we’ve long believed in the myth that a plan is our key to recovery during a disruption. Often, we hyper-focus on the plan as undeniable proof that the right actions will be taken in an incident. This is the worst possible approach. Learn why in our eBook, The plan is the promised land, the first in Lootok’s series on the five myths of business continuity management (BCM)!
Hurricane Sandy is the largest hurricane to ever form in the Atlantic Basin. Along its path, 253 people were killed in seven countries and total damage resulted in over $65.5 billion. How does superstorm Sandy compare to major disasters from last year?
$18 billion dollars. That’s the number estimated in damages caused by Hurricane Sandy just in the state of New York alone. With the unexpected turns that transpired amidst the super storm, all businesses were reminded of the importance of business resiliency.
Given the vast amount of information presented to-date, it is still very important that the financial sector revisit the surprises from Sandy to ensure that critical financial services are better protected. A team of experienced BCM advisors gathered the recommendations in the accompanying table from industry thought leaders in leading global financial services companies to learn from their perspectives.