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1
MEET THE EXPERTS
RISK 101 – KNOW THE UNKNOWN
2
AGENDA
Definition of Risk & Risk
Management
Risk Identification Risk LifeCycle
The Known Unknown -
BiotechCorp Case Study
Where do we go from here?
3
What is Risk?
• Potential Loss exposure due to a threat; which causes disruption to business operations
• Preventing them from achieving the Minimum Business Continuity Objective (MBCO)
• 3 components:– An Event – A probability – An Impact
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What is Risk Management?• An on-going process of assessing the risk to mission /
business as part of risk-based approach used to determine adequate security for a system by analyzing threats and vulnerabilities and selecting appropriate, cost effective controls to achieve and maintain an acceptable level of risk.
- BCMPedia
• An organized means of identifying and measuring risk, and selecting, and managing options for handling these risks.
- Harold Kerzner
• Is a PROACTIVE approach
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Be prepared for any eventualities!
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Risk Life Cycle
PLANProject
Risk Manageme
nt
AnalyzeRisks
AssessRisks
RiskTreatment
Monitor& Control
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Examples of Risks
Natural Man-made Business Technology
TyphoonFlood due to unplanned construction
Unskilled Labor Poor quality of product
Strong Earthquake in neighbouring country
Riots Material availabilityPreventive maintenances not carried out
Sinkhole found near building Bersih 2.0 Assembly Strikes Virus attacking network
TsunamiLost of key resource due to accident
Lack of Management Support
Data being stolen (via P2P)
Peat fire Terrorist attack Changes in schedulesData Restoration exercise never done
Arson attack Regulatory requirements Network Hard disk crash
Fire in buildingno control system in place
Sars Virus attack
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The known unknown
Donald Henry Rumsfeld, Secretary of Defense, 2001-2006
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BiotechCorp Case Study – The Known Unknowns
• We occupy Top 4 levels (L23, L22, L21, L20) + Level 1
• Fire Drills was an “annual casual leisurely walk” since 2005
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Reality Check
What we think…. The usual reality..
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The Known Unknowns
• Assembly Point - Logistic nightmare (KLCC Mosque (public assembly issue), Menara Atlan public Car Park)
• Sink Hole NEAR Office (KLCC) & Kg. Baru
• KLCC – Protest Zone!
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The Known Unknowns
• Oversized, disabled and Pregnant – mobility issue
• Stairways blocked – rubbish
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The Challenge we face
• “We’ve never had that kind of loss”• “What, change my procedure? I’ve always
done it this way!”• “I’ve lived here for 20 years without a
problem!”• “All Risk Management has is: bad news
with higher price tags!”• No communication!
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The Known Unknowns
• What are OUR Obligations (as BCM Professionals)?– DISCUSS
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RISK MANAGEMENT:
NOT YOUR DUTY?- Ownership- Leadership
- Accountability- It really is our DUTY (not job) to ensure that our staffs are informed
of our policies, procedures and expectations.
16
BCMI
BE AN EXPERT.JOIN THE EXPERTS.
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Questions?