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BC Management's 10th Annual BCM Trending Index (A Comprehensive Assessment) has been Published and Distributed to Index Participants.
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Highlights from the 10th Annual BCM Trending Index:
- There was a significant increase in the percent of respondents who indicated Third-Party Risk Management as one of the disciplines managed within the BCM Program (15.3% in late 2014 to 26.3% in this latest assessment). Additionally, more disciplines were added this year that each generated a significant response: Media Crisis Management (11.6%), Security-Cyber (9.1%) and Supplier Resiliency (16.8%).
- For the first time a scoring logic was built into the study to assess and compare program maturity between the self rated score and the index score, which was based on responses and logic built into the questions. Interestingly enough, 44.5% self rated their program as either being managed with quantitative metrics or striving for optimization/ improvement while the built-in index scoring reported 37.7% meeting that criteria. On the opposite side, 27.6% self rated their program at initial program planning/ documentation to attempt a repeatable process while the built-in index scoring reported 23.3% meeting that criteria.
- The Business Continuity profession seems to be the most challenged in integrating the following within the program: Asset Protection/ Loss Prevention, Change Management, Executive Protection, Health & Safety, Human Resources Processes, Privacy, Public Agencies/ Government Authorities, Records Management, Third-Party Risk Management, Succession Planning and Supplier Resiliency.
- In regards to the Business Continuity Program Department Owner, Risk Management received the greatest response at 21.8%. Information Technology followed with 16.7% of the respondents.
- 44.4% of the respondents indicated that the program sponsor was positioned at the utmost executive management level within their organization.
- Surprisingly, 32.3% of the respondents never exercise their plans for mission critical third-parties.
- 46.5% of the respondents indicated that program expenses are allocated independently from other organizational functions (E.G. they own the budget).
- The top budget line items increasing (by percent of respondents) in 2017 include: Full-time Internal Staff (19%), Hot-site/ Outsourced Alternate Site (19%) and DR Technology (16%).
- 52.8% of the respondents directly manage program personnel dedicated to the program and the average number of dedicated program personnel was 5.1 (under their management). On average, 14.6 professionals are dedicated to the program across the entire organization.
- 19.8% of the respondents are planning to hire employees under their direct management in 2017.