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Florence ChanResilience Expert
Resilience Specialist, RiskLogic
Asked a question 2 months ago

In what ways will Resilience (inc. Incident & crisis management through to business continuity) change as a result of COVID-19?

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The perception of preventive activities will likely be taken more seriously (and for those did, even further) along with a review and hopefully more investment in the right tools/applications to support such activities.

Big one that is already happening in the midst of responding to COVID-19 is reviewing the need for physical relocation sites VS easy access to equipment to enable effective and secure WFH (work from home) arrangements.

Even small things like younger generations having fixed internet connections compared to personal hotspots too!

We hope to see the importance of business continuity and resilience reflected in longer term investment, resource allocation and planning. We expect to see a greater focus on planning for people and third party risks. Any thoughts?

We have seen organisations (and regular people!) stockpiling. This may continue into the future as a contingency against a resurgence of Covid-19, or whatever the next disruption might be. This builds resilience over the usual "just in time" method organisations have typically been following in recent years. 

I expect organisations will become much more savvy in managing third party / supply risk. This has often been a poor relation in risk management strategies, but will play a far more prominent role in the future. The result will likely be a move to more local sourcing, and / or sourcing goods and services from multiple suppliers to reduce the risk of disruption. 

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