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Validating business continuity programmes in the 'new normal'
1QBE Insurance Group LTD.
Journal of Business Continuity & Emergency Planning
|May 27, 2022
Summary
The COVID-19 pandemic provided a real-world test for business continuity plans, revealing impacts on validation activities. Lessons learned can enhance organizational resilience and customer value in the future.
Area of Science:
- Business Continuity Management
- Organizational Resilience
- Risk Management
Background:
- Validation activities are crucial for ensuring business continuity arrangements remain effective.
- The COVID-19 pandemic disrupted traditional validation methods but offered a unique live test.
- This study examines the impact of the pandemic on business continuity validation in Australian companies.
Purpose of the Study:
- To analyze the effects of COVID-19 on business continuity validation processes.
- To identify lessons learned from the pandemic's disruption.
- To propose adaptations for validation techniques in a post-pandemic environment.
Main Methods:
- Review of practical experiences and validation assessments.
- Analysis of approximately 30 Australian companies.
- Discussion of impacts on maintenance, exercising, and review phases.
Main Results:
- COVID-19 significantly impacted the execution of normal validation activities.
- The pandemic served as an unprecedented live test for business continuity plans and teams.
- Companies gained practical insights into recovery strategies and team performance.
Conclusions:
- Harnessing lessons from COVID-19 is vital for improving business continuity.
- Adapting validation techniques is necessary for enhanced organizational resilience.
- Improved validation can strengthen customer value propositions in the new normal.