Operational resilience: guide to defining plausible scenarios published
- Published: Tuesday, 27 July 2021 09:10
A key element of operational resilience is the development of ‘plausible scenarios’ and a new guide recently published by Castellan Solutions provides assistance in this area.
What are plausible scenarios?
A plausible scenario is a realistic event that could disrupt the delivery of important business services, leading to unacceptable impacts.
Plausible scenarios are used within operational resilience to stress test the impact tolerances that have been developed for important business services and to identify weaknesses, vulnerabilities, and associated mitigating actions. They are a key action for validating operational resilience strategies; providing clarify and confidence for executives and regulators.
How to develop and use plausible scenarios
To assist with the development and use of plausible scenarios, Castellan Solutions has written ‘The Plausible Scenario Builder’. This is designed to help organizations effectively navigate this area of operational resilience by offering a practical five-step framework and worksheet to define plausible scenarios and to prepare them for use in stress testing.