Enterprise Risk Management Options
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Enterprise risk management options

Enterprise risk management options erm framework enterprise risk management 2019 integrating with strategy and performance for money hplc research papers ´╗┐what's a business continuity planning a project management approach in this presentation I will cover the specific specifically in general business continuity in general I should say and also specifically putting together a business preparedness plan using the disciplines of project management so we have a couple of objectives one of them is courses we're going to cover the basic concepts of business continuity and specifically preparedness and also appreciate the value of business preparedness and use of project management and building a resilient company or organization that you may be part of whether it could be a department it could be a subsidiary whatever the structures in that business preparedness is in business continuity are very relevant oh I'll show how you can use project management to get your company more resilience so those are the three objectives that we're going to try to achieve today which we will achieve I should say and so the next slide is as you can see here is you're probably wondering what the heck is business continuity well business continuity really is fundamentally an approach for developing and deploying in maintaining as you can see your strategies and procedures to ensure that critical business processes are resilient in other words you're the company or the organization that you're a member of will be able to respond to and recover from an event that could potentially either progress in terms of meeting the customers needs or affect the bottom line of your company from a financial perspective so business continuity this it has three deliverables and these fundamental three deliverables are putting an infrastructure in place and we'll talk more about that and if you in a few minutes arm also making sure that you perform a business impact analysis that's absolutely important to ensure that basically that the risk have been identified and prioritized and from a business perspective a little bit about that and of course ultimately the final deliverable is a business preparedness plan so these are the three fundamental deliverables for a for business continuity so what continuity well here from this slide there's a host of reasons that make good sense the bottom line is is we live and everybody knows now in a global economy and something that had you can have your business might be an internet business it might be manufacturing business it may be financial business and something happens on the other side of the globe in an bammo the company's at risk it can affect the performance and you want to be able to make sure that you have good disciplines in place and that's why business continuity exists so you see here you got terrorism war and of course recently both in Japan and Ecuador you had major earthquakes and I'm sure there's import export businesses have been impacted by that you got the thread a nationalization political pressure to increase regulations another thing is for business continuity another reason for it is of course insurance costs business insurance can be expensive if you don't have business not doing in place and you can save money by up by having business continuity in place and can reduce your business insurance costs there's always the danger of litigation and of course the financial situation is so highly integrated now that for instance money coming from Dubai can finance major businesses in the United States there's political turmoil out there it could affect the performance of the company local see here um there are several goals the business continuity only fundamental ones however one is of course you want to be able to have your organization survive in the face of an event and of course you want to minimize the impact of that event and of course recover your business critical business processes all three of these goals are tightly integrated that that if you don't put a good business continuity program in place in a supporting group of business preparedness plans we'll talk what those are in a bit what happens is is that the company becomes vulnerable and there's all sorts of consequences to that I don't need to mention not just lots of stock price loss of business but there's also loss of jobs and other collateral damage that can occur so as you can see on the next slide here the intial impacts of an event and you know they're all there and some of us remote like a cosmic impact and but you got climate change and I'll tell you again you know whether your pros or cons or now it's filled with dealt with climate change is occurring and the major a lot of the major insurance companies especially reinsurance companies are now considering the impact of climate change you got more you know we had that Icelandic eruption that occurred and it impacted the airline industry in Europe of course you got tsunamis and on the other side you got things like financial crisis you gotta just nature fires out here in Seattle we had one heck of a summer that last summer that destroyed a number of towns and a lot of very valuable lumber and impacted the lumber industry and of course the oh I ministry was been up from swine flu and all that other stuff a a lot of pandemics can affect transportation systems so you have a host of things that can occur on a on and of course not everything is equal and so there are a series of events that can occur and so this is sort of like this is a hierarchy of events you have a little incident that occurs let's say there's somebody throws a cigarette in it in a in a basket wastebasket catches on fire all of a sudden and expands into something very seriously and it starts putting me that your your office on fire so you got an emergency and then sooner or later he's saying wow this is a lot bigger than I thought and the fire department came in and all of a sudden the business starts catching on fire you got yourself a disaster several offices are being destroyed and then finally the whole building starts to catch on fire and so you've got a real crisis but you can still handle it and then you hit the point that it's a catastrophe and as and then I think it's Bill Paxton an alien's the movie says game over dude and so there's not much you can do under when you hit the catastrophe points that would be something that's major like in a non-fire type thing is maybe a tsunami that occurred a few years back in destroyed whole region's in the area so your business continuity has a number of benefits and of course the most important one is to be able to recover your critical business processes and we'll talk about what a critical business process is in a little bit on the other thing is that there's some federal advantages that people don't realize especially in larger organizations is that when people work in their environment they get in a very narrow focus and they lose sight of the big picture of how the work they do or the processes they perform or the procedures they perform our operations how they play in a whole scheme of things in terms of a critical process and also the recovery of a company in case you gets hit with it with an event so things that doing business continuity and i have found based on my experience is that people start exchanging information that they ordinarily would not do yes is that they build trust it builds trust by people starting to say understand you the capstone golf course order Columbia University, Morningside Heights.

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