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DRI’s Global Risk and Resilience Trends Report: The Top 8 Resilience Trends

January 14, 2020 Leave a comment DRI Admin

DRI International’s 5th Global Risk and Resilience Trends Report gives a global perspective and comprehensive trends analysis of how resilience professionals view their industry and the external factors that are shaping it.

In 2019, the risks posed by technology attack or failure have further consolidated their positions at the top of the resilience register. Top of the index, both overall and in every region and nearly all business sectors, is the concern of a successful major cyber attack. Next, is the related fear of a severe data breach. In third position, we have the more traditional issue of a significant IT outage caused by technical malfunction or human error.

2020 Resilience Index – click to enlarge

Cyber attack and data breach are not just business and financial issues. NATO has recently stated that a major cyber attack may trigger Article 5 (collective defense) which commits members to come to the aid of one another. This reinforces the critical importance of cyberspace and its potential as the flashpoint for global hostilities.

Looking at 2019 also revealed eight overarching trends in the profession. They are provided to assist resilience professionals understand how their working arrangements compare with the overall direction across a wide range of organizations. To read more, click here to download the complete report free from the DRI Library.

  1. The consolidation of business continuity, disaster recovery, crisis management, and emergency management has escalated during the past 12 months.
  2. During the course of the year, there has been little progress in involving resilience management professionals in new areas of risk.
  3. Across all regions and almost all sectors, technology risk is seen as the most important of the macro global risks, putting it ahead of economic, social, environment, and political considerations.
  4. The number of respondents who think that senior management understands their role and function has increased.
  5. The Resilience Index scores are generally a little higher than in previous years, particularly on the impact scale.
  6. Regulated firms are much more likely to have a resilience program in place than nonregulated firms.
  7. Some 20% of respondents reported that they do not trust their senior management to make risk decisions in a crisis situation.
  8. Resilience professionals in different geographic sectors have different priorities once the fundamental IT issues are covered.