DRI International publishes its 2018 Global Risk and Resilience Trends Report
- Published: Tuesday, 20 November 2018 09:48
Developed by the DRI Future Vision Committee, the annual DRI International Global Risk and Resilience Trends Report has just been published. It ‘provides a global perspective and comprehensive trends analysis of how resilience professionals view their industry and the external factors that are shaping it’. The report provides insight into the key trends and changes that have been observed since the last report in 2017, and has been extended this year to give an even more detailed picture of the state of the profession.
The basic data in the report is provided by surveying certified resilience professionals, specialists from related disciplines, and senior management.
As in previous years, the authors of the report have ‘focused on where organizational resilience could and should be improved and how this can be helped by the adoption of best practices’.
In 2017, the top three issues flagged in the report’s resilience index were major IT disruption, extreme natural disasters, and cyberattacks. This year’s pattern is very similar; the top two issues remain unchanged, but severe data breach now ranks third. There also appears to be a greater focus on technological risk. As a global geo-political threat, technological risk is a greater worry than either political or economic risk for both North America and Europe. Technology is seen as less of a risky concern in Asia where traditional political and economic issues dominate.
According to the report the top eight resilience trends are:
- The predicted consolidation of resilience disciplines seems to have increased over the past year.
- The scope of work of a BC or resilience professional hasn’t really changed.
- Across all regions and sectors, it is a concern that over 30 percent of professionals believe that senior management doesn’t understand their resilience role
- A significant concern is that many C-Level executives have no direct experience of managing a major disruptive event.
- Professionals must have a common base of skills to manage IT disruptions and physical interruptions, such as natural or man-made disasters.
- Resilience professionals often have the best overview of how a business functions as well as the risks posed by dependencies and disruptions.
- There is no evidence that a silo mentality is hindering the adoption of a more comprehensive resilience framework.
- Although there is no direct evidence that any of the resilience disciplines (in particular BC) are unable to gain access to senior management, BC is often still viewed as a separate discipline from risk (despite the aforementioned consolidation of resilience disciplines) and consistently fails to make itself relevant enough to the concerns of top executives.