Reading the Road Ahead: A BCM Dashboard for 2022
The pedal is to the metal and we are about to leave 2021 in the dust. Here’s a verbal dashboard to give you an idea of what might lie ahead for your organization and BCM in 2022.
Related on BCMMETRICS: Put Your Program on the Map: A BCM Roadmap for 2022
The Beauty of a Good Dashboard
My professional outlook is about the importance of being prudent, but there is one area where I like to stretch a little and that’s in the car I drive.
As far as I’m concerned my Porsche 911 is the sweetest thing on the road. It looks great, drives great, and is a marvel of performance engineering.
One of my favorite things about the car is the dashboard. I love data. Quality data gives you a picture of a dimension of reality that you can’t get through your senses. It heightens your perceptions and increases your ability to operate effectively.
My car’s dashboard is packed with great data. It has five gauges. The big center gauge shows your speed and RPMs. The two on either side have information about the car, weather, and road. I especially love the data about the road. There are sensors that read the highway signs, tell you the distance to the car ahead, advise you of what the road is going to do, and map traffic conditions and road hazards. Having that information allows you to drive with greater confidence and makes driving safer. It also makes it more fun.
As a BCM professional, you too can benefit from having accurate data about the road ahead, but rather than information about traffic conditions, you need information about what future events are likely to impact your organization’s ability to carry out its critical operations.
Five BCM Challenges for 2022
Here are five areas that are likely to pose challenges for us as BCM professionals in 2022—one area for each gauge on a Porsche’s dashboard.
1. Natural disasters
Extreme weather is on the rise. Climate change is driving an increase in the frequency and severity of wildfires, floods, droughts, heat waves, and other extreme natural events. 2022 is likely to see many instances of fierce weather. This gauge on your dashboard is saying, “Rough weather ahead. Drive carefully. Be prepared.” This is especially pertinent for you if your organization has facilities or critical vendors in one of America’s red zones.
2. Ransomware
Cybercrime is increasing, with the attack of choice being ransomware attacks, where criminals encrypt your data then tell you, “Pay Up or Else.” Cybernews.com predicts that in 2022, “Ransomware will become more aggressive and widespread, while threat actors behind major ransomware operations will attempt to extend their operations targeting mobile and IoT devices.” I suggest you educate yourself (if you’re new to the subject) then nudge your company toward greater preparedness.
3. Worker shortages
Not having enough workers might be an issue for many companies through 2022. “The labor shortages that have defined the job market this year will likely continue into 2022,” says The Street. Such shortages have the power to slow your operations down or grind them to a halt. One way to prepare is to prioritize: Know ahead of time which operations you absolutely, positively need to keep going. There are some grounds for optimism. Some sources see the problem easing as the new year gains steam. One is Bank of America, which (according to Business Insider), expects the worker shortage “to fade by early 2022 as stimulus expires and more Americans are vaccinated.”
4. COVID-19
From the business continuity perspective, getting past COVID in 2022 will be like trying to sneak past a drowsing bear. It’s going to be touch and go. This goes for everything having to do with COVID, including people getting ill, vaccination mandates, controversies, conflicts over masking, new variants, new drugs, boosters, and rising vax rates. Your job as a BC professional is to be rational, prepared, nimble, and ready for anything.
5. Supply chain
The problems of the global supply chain became front-page news in 2021. CNBC reports that omicron might add more stress to the system in 2022. On the other hand, Bloomberg News sees reasons for optimism (“The U.S. Supply-Chain Crisis Is Already Easing”). As with COVID, all that can be said for sure is, hope for the best and prepare for the worst. Identify your critical vendors, assess their exposure and resilience, and take steps to manage down your risk. For more information, see “How to Stop Third-Party Vendors from Becoming Your Achilles’ Heel.” Also, keep an eye out for our forthcoming ebook on the subject. The working title is “Critical Vendors: The MHA Guide to Securing Your Supply Chain.”
Speeding Down the Open Road
That makes five likely 2022 trouble spots, one for each gauge on a Porsche 911 dashboard. By keeping an eye on these five areas in 2022, you can help your organization anticipate hazards, avoid obstacles, and speed safely down the open road.
Further Reading
For more information on future BCM challenges and other hot topics in BCM and IT/disaster recovery, check out these recent posts from BCMMETRICS and MHA Consulting:
- “Pay Up or Else”: How to Be Ready for a Ransomware Attack
- America’s Red Zones: Where Natural Disasters Cluster and What It Means for You
- The Future of COVID-19: Predictions Are Hard, Preparing Is Easy
- Vulnerable Vendors: Supplier Weaknesses Put Your Organization at Risk
- How to Stop Third-Party Vendors from Becoming Your Achilles’ Heel.”
- Put Your Program on the Map: A BCM Roadmap for 2022
Michael Herrera
Michael Herrera is the Chief Executive Officer (CEO) of MHA. In his role, Michael provides global leadership to the entire set of industry practices and horizontal capabilities within MHA. Under his leadership, MHA has become a leading provider of Business Continuity and Disaster Recovery services to organizations on a global level. He is also the founder of BCMMETRICS, a leading cloud based tool designed to assess business continuity compliance and residual risk. Michael is a well-known and sought after speaker on Business Continuity issues at local and national contingency planner chapter meetings and conferences. Prior to founding MHA, he was a Regional VP for Bank of America, where he was responsible for Business Continuity across the southwest region.
