Time & Place
28 Oct 2016
Vision Towers, Futureal, Angyalföldi út, Országbíró utcai lakótelep, Angyalföld, 13. kerület, Budapest, Közép-Magyarország, 1134, Magyarország Hungary
An error in the telecommunication system, a power outage, a strike at the local public transportation company or a cybersecurity incident – all of these may cause a severe financial loss if there is no proper business continuity management (BCM) framework system in place along with appropriate contingency plans to efficiently overcome the situation. Some organizations handle the issue seriously because of legal obligations, some are committed to assure a constantly high level of service for their clients, and some want to be prepared for unforeseen situations because of their business partners’ demands.
Although international standards and generally accepted best practices supporting the design of BCM framework systems are available in Hungary, every organization has its special set of requirements and thus their approach to the planning process of business continuity is case-specific as well. However, in course of our work with our clients we learned that BCM-related questions and problems faced by risk managers at different companies are often quite similar in practice. How can unforeseen situations be identified that are worth being prepared for? How should team members get involved in the BCM design and planning process? How should the contingency plans be tested and maintained? There is a breadth of questions common to most business continuity experts.
Therefore, KPMG decided to reinforce the development of business continuity planning in Hungary and provide a discussion forum for the experts in our country. The results of our first survey, “BCM Panorama – A study on business continuity planning in Hungary” were published in 2011, and this was the first time that the BCM Club was organized to disseminate our findings among interested professionals. Our research has been repeated every year and the BCM Club has been held twice a year ever since. It has become a tradition for the participants to take part in a simulation workshop where the challenges of a business continuity incident scenario based on real-word experience have to be overcome.
The key to the success of these meetings is that we provide an independent discussion forum for BCM-experts, which also enables them to develop their professional network. The number of experts taking part in the survey and in the BCM-Club, along with the number of business sectors represented by the participants has grown continuously: 28 professionals delegated by 20 companies attended the spring BCM Club this year, and our survey is run on a basis of 60-80 participants.