Australian Business Continuity Management Standard AS/NZS 5050:2010 – A Risk Perspective
April 19, 2012 Leave a comment
Global surveys of small to medium sized enterprises (SME) over the past few years candidly point to the fact the vast majority of SMEs are not prepared for a business disruption-related risk event. Over 50% do not have a Business Continuity Management (BCM) plan in place and of those that do have a BMC plan only about ¼ have actually been tested. This is a major concern given that the median cost of downtime for an SME in Asia Pacific is $14,500 per day and whilst 65% of businesses believe it would take them between 1 week and 1 month to recover from a major disruption, a return to normal trading can often take 12 months or more. Simply put, without the preplanning involved in the BCM process, most organisations will not survive a major business disruption event.
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