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DRI Future Vision Committee: Third Annual Trends and Predictions Reports

November 2, 2017 Leave a comment DRI Admin

What are the top three issues that worry resilience professionals? Do financial services have an edge over other sectors in understanding and managing risk? Are the concerns of U.S. and European governments and businesses starting to diverge? Do resilience professionals struggle to make their case on issues that are not directly technology related? Are international terrorism and supply chain failures priority resilience issues for global manufacturing and distribution corporations?

Find out the answers to these questions and many others in the DRI Future Vision Committee’s Third Annual Trends Report and Predictions Report – both coming this Fall. While you’re waiting for the final reports, here’s an advanced look at a few key findings:

2017 vs 2018

Last year, our top three overall resilience issues were the business consequences of major IT failures, cyber-attacks, and adequate investment in information security. From the preliminary results of this year’s survey of DRI Certified Professionals, the same three issues top our rankings again. There is now a stronger correlation between the probability of one of these factors occurring to an individual enterprise and the perceived business impact. Organizations now accept that technology interruptions are possible — even probable — and, they are a major threat to overall business viability.

What’s New?

While the top three issues remain the same, our survey reveals other interesting findings, including the scope of what concerns today’s resilience professionals. Far from simply being IT specialists, they are very concerned with many national and international risks. Leading both the probability and impact categories were risk of another financial melt-down, flooding/extreme weather, and reputational damage via social media. Rapidly gaining attention was the risk of compliance failure with respect to data protection and privacy legislation – a hot topic in both China and the European Union and likely to grow in importance globally.

Are You Responsible?

For the first time, we asked Certified Professionals specific questions about their direct responsibility for dealing with particular threats. Although many consider cyber security the biggest problem that companies face, fewer than 5 percent felt that they had the ultimate responsibility for mitigating this risk. In fact, more than 50 percent of all respondents felt that they had no or very little involvement with managing cyber risk. This apparent dichotomy will be explored further in the full report. Where resilience professionals felt they were most involved was in planning response to natural disasters, man-made disasters, IT failures, and pandemics.

Stay Tuned for More

Keep an eye out for both reports – Trends in November and Predictions in December. We’re excited to share our findings, especially since this year they are based on your survey replies in addition to the customary Future Vision Committee input.  If you have questions or comments in the meantime, we can be reached at driinfo@drii.org.