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BCM and ERM: What’s the Difference?

Castellan

At a high level, it may seem natural to use the terms business continuity management and enterprise risk management interchangeably. While there are some congruences between them, there are some unique distinctions that separate the two, and in many regards, they’re actually completely different business functions. LEARN MORE.

BCM 98
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Hurricane Season is in Full Effect ? Are You Prepared?

Fusion Risk Management

To help with this, it is crucial that organizations invest in operational resilience and business continuity programs so that risk practitioners can more easily identify their business processes, important business services, and the key personnel responsible for those. Can the work be deferred?

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The Importance of Impact Tolerance in Operational Resilience

Castellan

From there, you can use that information to prioritize what’s most important and then focus on mitigation and remediation. By understanding your impact tolerance, you can better understand the impact single points of failure and vulnerabilities could have on your organization. From there, it’s time to dive into setting your impact tolerance.

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DORA: Moving Beyond the Basics of Compliance and Implementing a Cross-Functional Approach to Resilience

Fusion Risk Management

But don’t fret – this does not mean that your business continuity (BC) team must suddenly become IT experts! They simply must understand, as BC practitioners, that IT could be a source of disruption and, therefore, work to embrace their portion of the business as it contributes to operational resilience.

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How the supply chain can be impacted in a disaster

CCEM Strategies

Severe weather events increasing The Business Continuity Institute, a global membership and certifying organization for business continuity, reports[5] in their Extreme Weather and Climate Change Report 2022 that 66.7%

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Geopolitics, regulations, and resilience

Fusion Risk Management

They also emphasize the need for organizations to strengthen their business continuity (BC) and operational resilience programs as well as prioritize agility to mitigate emerging threats and ensure compliance with global regulatory mandates.

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Resilience is Everyone’s Job

Fusion Risk Management

So, here are five trends that consistently came up during the roundtable and our attendee poll: Business Continuity Program Executive Ownership Remains Dispersed. Then, prioritize the services that, if disrupted, would impact that promise. Ask yourself: What is the process chain that delivers this overall service?