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Updated: Sep 11, 2025
12:44
Watershed Planning within a Quantitative Scenario Analysis Framework
Published on: July 24, 2016
8.1K
Accelerating transformation in resilience through sector-wide scenario exercising
14C Strategies, Nova North.
Journal of Business Continuity & Emergency Planning
|August 16, 2025
Summary
WISE 2023 enhanced business continuity management (BCM) and operational resilience in Hong Kong's financial sector. Key lessons include early planning, diverse teams, clear objectives, and continuous learning for crisis preparedness.
Area of Science:
- Financial Sector Resilience
- Business Continuity Management (BCM)
- Crisis Response Exercises
Background:
- Hong Kong's financial sector faces evolving crisis risks.
- Operational resilience and BCM are critical for stability.
- Sector-wide exercises are essential for preparedness.
Purpose of the Study:
- To explore the outcomes of the WISE 2023 exercise.
- To identify key lessons for enhancing BCM and operational resilience.
- To provide insights for financial institutions and BCM professionals.
Main Methods:
- Scenario-based simulations within the financial sector.
- Testing crisis response capabilities of financial institutions.
- Analysis of exercise outcomes and participant feedback.
Main Results:
- Improvements in BCM, crisis communication, and regulatory compliance.
- Highlighting the importance of early planning and diverse teams.
- Demonstrating the value of external expertise, technology, and strong leadership.
Conclusions:
- Post-exercise reviews and continuous stakeholder engagement are vital.
- Iterative learning is crucial for maintaining long-term preparedness.
- WISE 2023 provides valuable lessons for improving crisis response in finance.
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