The Great Business Continuity Risk-Reward Mix-Up
Investors and financial institutions like to correlate business continuity risk with business continuity reward. If risk is greater in an investment, then the potential reward should be greater too.
Investors and financial institutions like to correlate business continuity risk with business continuity reward. If risk is greater in an investment, then the potential reward should be greater too.
It’s always an editorial dilemma – Do we start with the event with the biggest business continuity impact? The event that was the most unbelievable? For the 2016 Business Continuity Review, we have some difficult choices, including the massive cyberattack of the toasters, the most powerful man in the world (soon) trying to carve up the Internet, and a smartphone threatening the health of a national economy.
We know you know, but to save you the mental effort of fleshing these acronyms out into full-length descriptions, here’s what they stand for. BCM is business continuity management. ITSCM is IT service continuity management.
Paved with good intentions and best practices, the road to ITIL hell can look so alluring to the unwary IT manager.
Can these two items coexist? Business continuity is about keeping things going, whereas business transformation is often about breaking things (figuratively, if not literally) to get out of a rut and into a new, more competitive mode of business.
IT risk management can be a risk all by itself. Although the principles sound straightforward, applying them incorrectly can lead to wasted effort, mistakes in risk postures, and failing to spot relevant risks or changes in those risks.