The ROI of Business Continuity? Reframing the Conversation to Talk About Value
You often hear the phrase “return on investment” (ROI) when groups or organizations attempt to demonstrate the value of a particular activity. “Is it good for us?” “Is it worth the investment?” and “Should we continue to fund the endeavor?” are all valid and important questions. The challenge for business continuity professionals is to address the question, “What is the ROI of business continuity?” in ways that will be meaningful to someone wielding the budget stick. In the “olden days,” colleagues would point to their business impact analysis (BIA), with pie charts and bar graphs showing the cost of business downtime if an event occurred. They’d sit back and say, “See? We provide ROI because we addressed Bad Thing happening!” But wait – is that really the best that continuity professionals can do? This session peels back the question of ROI and attempts to instead address the value proposition of business continuity. The goal is to broaden the conversation. Instead of talking about how much money business continuity efforts will save the company, we will focus on why the Bad Thing happened. By clearly understanding the whys of business continuity, you can make your organization more resilient and truly demonstrate value.
Determine how you define value.
Identify your top 7 values.
Develop your value “elevator speech.”