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Volume 27, Issue 4

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How to Cost Justify a Cost Continuation Plan to Management

Written by  Colleen Gordon Tuesday, 20 November 2007 23:33

Information is a Valuable Asset. It may seem obvious, but occasionally management needs to be reminded that information is a valuable asset and must be protected as such. This is especially apparent when presented with a business continuation plan. Often the cost of disaster preparedness causes management to forget what they are required to protect! According to Contingency Planning Research, the average impact of computer downtime costs a retail brokerage $6.45 million per hour. A credit card sales authorization company loses $2.6 million per hour. Most companies value 100 megabytes of data at more than a million dollars. Forty-three percent of lost or stolen data is valued at five million dollars.