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Monday, 28 December 2009 15:43

The Business Resilience Transformation Lifecycle

Written by  RICHARD COCCHIARA

A roadmap for becoming a stronger, more responsive businessResilience needs are not the same across all industries or even across companies within a given industry. As a result, the process of becoming a resilient business is highly individualized, but the complexity of the task demands a methodical approach. The business resilience transformation lifecycle actually maps the transformation journey in a stepby- step process designed to assist in appropriately restructuring all objects within an enterprise, mitigating risk, and enhancing the ability to exploit opportunities.Phase one: Determine Risk ExposureThe transformation lifecycle begins when risks unique to an organization are identified. These may include the risk of natural disasters and could also include civil unrest, technical failures, regulatory compliance, and sudden changes in demand, operational requirements, and any other risks that may interrupt normal business activity. It is important to include opportunities in the assessment such as sudden spikes in transaction volumes, new acquisitions or mergers, or highly effective marketing campaigns.Companies tend to perform these types of assessments infrequently, in response to regulatory requirements or other changes to the business model. However, many organizations