|
|
|
|
| Read more articles on: |
|
|
 |
|
HONG KONG: Viruses, worms and hacker attacks are becoming more sophisticated and increasing exponentially. Environmental and natural disasters like typhoons and earthquakes add to the chaos. In 2005 alone, companies worldwide are likely to lose over US $20 billion as a result of these threats. In this scenario, an effective business continuity plan (BCP) is what organizations need to get out of the crisis in the minimum amount of time possible.
Organizations should have a BCP that encompasses all aspects of infrastructure, processes and people, said John Mulligan, director, planning and engineering, AT&T Asia/Pacific Group Ltd.
In a recent presentation, Mulligan touched upon the basics of BCP and explained the problems that could arise through lack of BCP.
His presentation included findings from a survey by the Economist Intelligence Unit-AT&T, on business continuity planning. As per the survey, 71 percent of companies reported of attacks coming from outsiders as compared to 29 percent from insiders.
Viruses and worms, and hackers were voted as the top two significant security threats today and in two years time. Companies conducting significant business online were said to be the most vulnerable.
Around 240 senior executives from 19 industry sectors participated in the survey -- 33 percent from Asia Pacific, 31 percent from Europe and 26 percent from North America.
Interestingly, while most firms regard BCP as an important, long-term priority, one in three firms still have no BCP agenda, despite mmajor business disruptions happening, Mulligan said.
In the Asia Pacific, BCP is a familiar concept in most organizations and 71 percent of the participants confirmed having BCP in place. However, around 70 percent of the respondents said they had never suspended key business operations due to a disaster.
When it comes to testing BCP, 27 percent said they had never done it, while 19 percent had tested it around one to two years back. Of those who tested, BCP 30 percent did it during a natural disaster and 25 percent during system failures.
According to Mulligan, all organizations should have a BCP strategy in place. To put an effective BCP in place, they should identify all of the mission-critical activities and their dependencies. They should make someone senior accountable for BCP, document and communicate role, procedures and responsibilities, as well as test the plan against multiple risk scenarios, and be prepared to handle the press and media.
|