BCI’s Annual Horizon Scan Survey Report Reveals Top Ten Business Continuity Threats

The Business Continuity Institute (BCI), in association with the British Standards Institution (BSI) has released its annual Horizon Scan survey report.

According to a BCI press release, the report found 77% of business continuity managers fear the possibility of an unplanned IT and telecom outage. A similar 73% worry about the possibility of a cyber attack or data breach. In terms of monitoring threats for the future, 73% see the use of the Internet for malicious attacks as a major threat that should be monitored and 63% see the influence of social media as another threat that should be closely watched.

IT-related threats are at the top of the list of this year’s top 10 threats to business continuity. Here are all 10:

1. Unplanned IT and telecom outages

2. Cyber attack

3. Data breach

4. Adverse weather

5. Interruption to utility supply

6. Fire

7. Security incident

8. Health & Safety incident

9. Act of terrorism

10. New laws or regulations

This survey shows that there are some threats that are more common among most organizations, while others present themselves to varying degrees between different geographic locations or industry sectors. Organizations are different so the horizon scanning process is essential in order to assess these threats and ensure that the right business continuity plan is in place to deal with the impact of them. This piece of research has greater significance this year for the BCI as the theme in what is our 20th year is all about looking to the future and facing the new challenges this future will bring,” said Lyndon Bird FBCI, technical director at BCI.

The report also revealed the following information:

  • Adverse weather moved up the list of threats with 57% of respondents expressing concern or extreme concern. This was before the storms that have swept the UK and those on the eastern seaboard of the United States and Canada.
  • Geography and industry play an important role in determining threat levels with respondents from Japan and New Zealand showing greater levels of concern for earthquakes, while those in the manufacturing industry rate supply chain disruption and product quality control as greater threats.
  • Of the 71% of respondents who stated that they did conduct a trend analysis, a fifth of them claimed they had no access to the final output.
  • Less than half of the respondents (44%) use the international standard ISO22301 as the framework for their business continuity management programme.

 

For more information, click here: http://www.thebci.org/index.php/news#/news/threats-on-the-horizon-78845
The full BCI report can be downloaded here; brief registration is required first. http://www.thebci.org/index.php/the-2014-bci-horizon-scan