BCP Benchmarking

We're about to test our newly created Business Continuity Plan. But before the testing, we want to do bench marking to other companies who implement the plan during actual disaster. To gain more knowledge and techniques on how to go about it.

Does anybody knows what companies are into this? We prepare companies located near the Philippines. Thank you.

You need to be a member of Global Risk Community to add comments!

Join Global Risk Community

Votes: 0
Email me when people reply –

Replies

  • Hi Jeffrey,

    I am just curious why you would benchmark BCP? With BCP aren't you better off trying to make sure you can recover your systems based on the SLAs you provide to the business rather than other businesses?

    Thanks

    Ketan

  • Agree with Vijay.

    The testing of the BCP is important even though sometimes is difficult to create a scenario and act as it was real.

    Something that I think it can strenght the response and mitigate some of the problems that aren't observed during a test is document all the events that occurr during the year, with a description of the event, areas affected, actions taken, difficulties observed, recommendations and lessons learned.

     

  • There are various level of program maturity. You should try to determine your firm's level of maturity and develop reasonable time frames and methods for moving your firm's program up the maturity scale.  In bench marking, you might try to find firms similar to yours (same general region, similar business size/revenues, similar business segment) and develop a collegiate relationship of sharing the BCP program's success and pitfalls.

  • Hi Jeff,
    I don't know of any companies that post or share their results from their BCP testing. What may be more realistic is to connect with some peer companies in a more private setting and share some of this information internally. This can help establish a baseline and best practice. Hope this helps.

    John
  • Hi Jeff- Depending upon the maturity of BCP plans and teams, there are different levels of BCP testing that is done. Right from Walkthrough of the plan to a functional or full scale test. So you might want to see where you are in your continuity maturity path and accordingly decide the level of testing. Hope this helps.. Thanks

  • Hi Jeffrey, Just to clairfy, we perform testing twice a year on all our crtical systems and infrastructure and essentially have dashboard showing what worked well and what requires improvement. It includes systems response time including telephony systems with a script to inform clients on the disaster recovery process, sms messages which worked and those that failed. With regards to our critical applications, what was the response time and whether  the information in the applications were current or old. If old, how old!

This reply was deleted.

Introducing the Global Risk Series - Book 1 Risk Management How Tos

Dear GlobalRisk Community member, Our community’s mission is to foster business, networking and educational explorations among members. Learn from some of the top experts in the industry as they clearly explain how to approach the most important Risk management concepts. Check out their expert tips and use the link at the end of each article to navigate back to the website to leave your comment or ask a question.   Some of the topics include: How do you Explain Risk Appetite?  How to Prepare a…

Read more…
16 Replies · Reply by GlobalRiskCommunity Mar 21
Views: 1130

[Free COVID-19 Framework] What's the path to recovery look like?

We created a free presentation (attached), which discusses both global and organizational impacts of the COVID-19 pandemic, along with critical actions organizations should take immediately. This presentation introduces a framework that helps regions and organizations navigate a path to recovery via 9 potential scenarios. These scenarios capture outcomes related to GDP impact, public health response, and economic policies. The presentation also breaks down 6 immediate and critical actions…

Read more…
4 Replies · Reply by Steve Diaz Jul 8, 2023
Views: 244

If risk management is about decision making, are current risk management solutions irrelevant?

Now that the updated COSO and ISO risk management standards emphasize a connection to enterprise objectives and decision making, does this mean ERM and GRC solutions focused on risk registers and regulatory compliance are missing the true value of risk management?Will current risk management solutions evolve to integrate more decision support functionality or will standalone prescriptive analytics and other technology solutions take a more prominent role in enabling risk-informed…

Read more…
3 Replies
Views: 172

A question related to classification of instruments between trading and banking book.

We have an interesting question from one of our members.       "We usually perform OTC FX transactions with clients backed-to-back on the market (with Banks). Now we are going to perform a FX swap (i.e. Spot + forward) JPY/EUR for the Bank account for 1 week at the longest. The purpose is to get EUR place @ CB for LCR compliance purpose (no trading purposes). Bank's Management think that this should be considered as a trading position and therefore be classified within the Bank's trading book.…

Read more…
5 Replies · Reply by Prisha Singh Dec 26, 2023
Views: 380

Plunging oil prices: curse or blessing in disguise?

The recent sudden crash of oil prices has had a major impact on the world economy, leading to many troubled faces in the international arena. The Russians fear the effects of yet another powerful hit on their economy, Venezuela seems to be considering default and the Americans are weary of the consequences for its young and emerging shale oil industry. And then you have the Middle East, where the smallest match is enough to ignite the largest fire. But are these worries really justified or…

Read more…
1 Reply
Views: 113

    About Us

    The GlobalRisk Community is a thriving community of risk managers and associated service providers. Our purpose is to foster business, networking and educational explorations among members. Our goal is to be the worlds premier Risk forum and contribute to better understanding of the complex world of risk.

    Business Partners

    For companies wanting to create a greater visibility for their products and services among their prospects in the Risk market: Send your business partnership request by filling in the form here!

lead