Business Continuity Sees Broad Response
As reported by Dave Cook in CFO.com, February 21 2006.
More than 83 percent of companies have developed business continuity management programs, compared with only 30 percent of companies just six years ago, according to a new survey by Deloitte & Touche LLP and CPM Group.
Deloitte and CPM expresss the view that the heightened attention for business continuity efforts "show that executive management remains primarily concerned with regulatory compliance, and with fulfilling fiduciary responsibilities by addressing operational resilience in response to a broad array of disruptive events.''
The researchers spoke to 273 professionals representing a large variety of industries. Nearly 50 percent have executive or managerial titles in business continuity or disaster recovery management; other management functions enjoy broad representation. While the majority of respondents were North American there were some worldwide respondents.
The research shows that new concerns about bird flu have joined existing worries about terrorism to keep business continuity an executive priority.
Other major findings of the Deloitte/CPM survey:
- Increasing intolerance of operational downtime has become a major reason for companies to establish a business continuity management program. In this latest survey, 12 percent of respondents reported a zero tolerance for operational disruption, more than twice as many as two years ago
- Nearly half of respondents believe they have a better understanding of regulatory requirements and have achieved full compliance
- Fully 70 percent of respondents have business-continuity programs for most or all critical functions
- Nearly 50 percent have developed crisis management plans that are tested at least annually, nearly one-third higher than last year's figure
- Nearly one-third of respondents' annual budgets for business continuity management exceed $1 million
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