What is operational resilience?2020-11-26
With new regulations shortly being introduced, we look at what operational resilience is, and what it means for organisations.
A Capability Maturity Model is a set of structured levels that describe how well the people, plans and processes of an organisation can reliably and sustainably produce required outcomes. At 4C, we employ these models to build, verify and track Risk Management, Business Continuity, and Incident and Crisis Management capability.
As a first step, a unique Capability Maturity Model is developed with each 4C customer to define what “good” looks like, in accordance with international standards and industry best practice. The Model can also include pre-defined strategic objectives and company values, to ensure that the Risk, Business Continuity and Crisis Management progression is aligned on a strategic, as well as operational, level.
The Model includes both the capability and compliance elements, to measure progress over time and across your organisation (internally and externally). The overall capability level is continuously assessed by combining the evaluations of all capability areas, ensuring that training and assurance activities are fit-for-purpose.
By using a Capability Maturity Model, your organisation creates a foundation against which future processes and activities can be measured, such as exercising and audit requirements for key roles, functions and teams. Furthermore, using the Model as an embedded and continuously used tool, your organisation can make ongoing capability assessments and gap analyses of potential areas of improvements. Once the gap analysis has been completed, your organisation can reach qualified decisions regarding investments in different areas of Organisational Resilience. This ensures that your organisation is investing time and resources where they are most needed, thereby receiving the best Return on Investment (RoI).
A Capability Maturity Model also enables your organisation to benchmark its capability and track its progress within risk, business continuity and incident and crisis management. This can be done both internally against different parts of your organisation or externally against other organisations.
Discover how you can build your Risk, Business Continuity and Crisis Management capability with our expert services and Exonaut® software solutions. Book a demo or meet with our consultants to discuss your requirements.