BC Management has released the results of its 9th Edition Event Impact Management Report which assesses how organizations prepare for events and gauge how certain events have impacted them. The study was conducted in partnership with Witt O’Brien’s.
Data points from the survey combine responses from global executives and major industry verticals, encompassing major disruptive event types including impacts due to terrorism, industrial accidents, natural disasters, cyber incidents, lawsuits, fraud, political instability, and the pandemic.
Top trends from the study include:
– 6% of respondents noted $10M+ in estimated financial losses; of those respondents, 50% of their Business Continuity programs were developed less than 4 years ago; 60% never exercised Business Continuity plans.
– Executive involvement increased in cyberspace attacks (25% in 2019 to 38% in 2020) and protests (19% in 2019 to 33% in 2020).
– COVID-19 consumed organizations with the longest business resumption period (average of 206 days); highest impact to critical processes (36% indicated more than 75% of critical processes were impacted).
A complimentary copy of this report is available via BC Management here.