One of the biggest challenges that someone charged with overseeing a Business Continuity Program has is to prove that the program is worth its cost: “What is your program’s ROI?” I call that the “dreaded question.” I wanted to develop a webinar and white paper on this topic because I would like to propose another way to frame this question. What if continuity planners talked about value on investment versus return on investment?
To that end, the whitepaper covers the following topics:
- The “Dreaded Question” of Return-On-Investment (ROI)
- Here’s Another Option: Value on Investment (VOI)
- Start by Changing the Conversation
- Eight Ideas on VOI
- Idea #1: Regulatory or Contractual Compliance
- Idea #2: Competitive Advantage
- Idea #3: Brand and Reputation Protection
- Idea #4: Risk Identification
- Idea #5: Operational Improvement
- Idea #6: Knowledge Capture
- Idea #7: Increased Robustness
- Idea #8: Deeper Knowledge
- Communicating Value
- Where Do You Go From Here?
The goal of the whitepaper is to think about things a bit differently and I have four suggestions about how to do that:
- Get your team together to “whiteboard” the value question.
- Have your elevator speech ready…you never know when you can insert it into a conversation.
- Be ready to share the top five (at least) values on investment that your continuity program provides to your company.
- Start spreading the word.
- Start today!
I encourage all of us in the fields of business continuity management, crisis management, crisis communications and IT service recovery to give this some serious thought and begin the dialogue on how to move forward from here.
We need to reframe the conversation.