A major investment bank hard hit by the September 11th terrorist attacks engaged us to apply the scenario planning methodology to help them develop business continuity plans.
First, we helped them evaluate vulnerabilities across all asset categories in their global markets and finance group. Together we assessed risks and exposures in facilities locations, business partners, technology, personnel and vital records, and identified gaps in readiness.
Then we held separate scenario-planning strategy workshops in London and New York in which client business leaders were challenged to close asset recovery gaps arising within different scenarios looking out three years, including high-impact external events like storms and terror attacks.
The workshops confirmed a set of “must do” business continuity actions that could be accomplished immediately at reasonable cost; gave them a greater understanding of costs and trade-offs associated with facilities locations, business relationships and alliances. In addition, the scenario process started an important internal dialogue between the firm’s executive leadership, business heads and business continuity planning managers with respect to goals, priorities and investments going forward.