Some interesting findings include:
- On average, utility organizations have less disciplines (3.3) 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), Crisis Management/ Incident Management, Pandemic Planning and Emergency Management.
- The majority of respondents (56%) received a maturity rating index of a standard program planning in place. 33% scored a bit higher with a managed program with quantitative metrics in place.
- 54% of the respondents indicated the program has existed (with or without their involvement) for over 10 years.
- Not surprisingly, 78% of the respondents noted that policies and procedures are in place to interact and coordinate with external agencies in times of disaster.
- 33% noted Information Technology as the department owner for the business continuity/ resiliency program; however, 25% of those individuals did not agree that the program was best positioned for maximum visibility.
- 83% indicated that their program sponsor at a zero or one level of separation from the executive management team.
- 27% never exercise their BC plans for mission critical third-parties.
- A majority (56%) noted that program expenses are allocated independently from other functions within the organization.
- In regards to staffing, 33% manage personnel and the average number of dedicated program staff is 7 professionals. Furthermore, 11% plan on hiring additional program personnel in 2017.
- 22% noted estimated financial losses of $500K - 1M per hour of downtime for 72+ hours.
- 63% indicated that the estimated financial losses are traced to insurance policies and coverages.
- 44% are planning on consulting initiatives in 2017.
Data collected between November 3, 2016 - January 23, 2017.
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Sample Industry Benchmarking Report (2017)
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