Operational resilience is the ability of an organization to continue operating even in the face of unexpected disruptions or failures.
Operational resilience helps recover from disruptions, and adapt and evolve in response to changing circumstances. This may include creating contingency plans, establishing redundant systems and processes, investing in infrastructure, and cultivating a culture of resilience across the organization.
Operational resilience is especially important in industries where even brief disruptions can have serious consequences, such as financial services, healthcare, and critical infrastructure.
Typical aspects:
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Risk assessment: Identify potential sources of disruption, such as cyber threats, natural disasters, and human errors; assess the likelihood and potential impact of each.
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Business impact analysis: Assess potential consequences of disruptions on business processes, services, and operations, as well as on customers, employees, and other stakeholders.
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Strategy development: Develop strategies and plans to minimize the impact of disruptions and ensure the continuity of critical business processes, services, and operations.
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Implementation: Implement the strategies and plans, develop contingency plans, establish redundant systems and processes, and invest in infrastructure.
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Testing and validation: Test and validate the strategies and plans through regular simulations, drills, and exercises to identify gaps and areas for improvement.
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Continuous improvement: Monitor and improve the resilience of the organization through ongoing risk assessments, business impact analyses, and strategy reviews.