Some interesting findings include:
- On average, financial organizations with revenues of $25M - $1B have 6.2 disciplines being managed within their program in comparison to their BCM peers from different industries (typically 5+ on average). The top disciplines managed in the program include Business Continuity Process (Business Focus) (100%), Crisis Management/ Incident Management (90%) and Crisis Communications (74%).
- 57% of the respondents indicated the program has existed (with or without their involvement) for over 10 years.
- 41% noted Risk Management as the department owner for the business continuity/ resiliency program and 55% of those individuals did agree that the program was best positioned for maximum visibility.
- 91% indicated that their program sponsor at a zero or one level of separation from the executive management team.
- 91% conduct an external audit of their program.
- 19% never exercise their plans for mission critical third-parties.
- 53% noted that program expenses are allocated independently from other functions within the organization.
- In regards to staffing, 59% manage personnel and the average number of dedicated program staff is 4.9 professionals. Furthermore, 5% plan on hiring additional program personnel in 2017.
- 16% utilize contractors/ consultants to assist with program planning initiatives.
- 27% indicated an estimated financial loss of more than $1M for every hour of downtime for 72+ hours of downtime and 47% indicated that the estimated financial losses are traced to insurance policies and coverages.
- 11% are planning on consulting initiatives in 2017.
Data collected between November 3, 2016 - January 23, 2017.
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