Business Case for 'Resiliency Testing' Course
"Businesses today are facing an ever-increasing number of challenges, from technological disruptions to economic uncertainties. In order to survive and thrive in this dynamic environment, companies need to be resilient and reliable (people, processes, technology, systems etc.) that can withstand unexpected events and adapt to changing conditions.
The diagram below shows the scope of Resiliency in an organisation:
There are 11 walls and roof of the House of Resiliency:
Incident Management
Emergency Management
Employee Health & Safety Management
Crisis Management
IT Disaster Recovery Management
Risk Management
Business Continuity Management
Crisis Communication Management
Physical Security Management
Information Security Management
Cybersecurity Management
Having plans and arrangements is good, but these cannot be treated as reliable until tested. The load on organisations has been increasing, and the expectations of the interested parties are very high. Testing becomes a challenge in these circumstances.
Designing, Developing, and Delivering an Effective Resiliency Test is an art.
The 'Resiliency Testing' course is an attempt to develop this art in your employees. Investing in employee development programs that focus on enhancing resiliency and reliability also adds to the reliability of resiliency. The 'Resiliency Testing' course is designed to help employees develop the skills and knowledge needed to build and maintain a robust ‘house of resiliency’ that can withstand disruptions and challenges.
This three-day course will cover a range of topics (the eleven walls as above), including 2 full days devoted to the Testing portion. (please see product brochure for full details).
By investing in the 'Resiliency Testing' course, companies can empower their employees to take a proactive approach to Resiliency and build stronger, more resilient systems (people-process-technology). This, in turn, can lead to improved operational efficiency, better customer service, and increased competitiveness in the market."
Here are simple calculations for you to present a Business Case for internal approvals, I will be happy to come in and support you if you need.
Investment in Resiliency Testing can yield multiple benefits including tangible and non-tangible benefits like:
Tangible
reduction in downtime
faster recoveries
increased employee satisfaction
increased client satisfaction
increased regulator satisfaction
repeat business
positive referrals
reduced penalties
reduced recovery costs
enhanced product/ service rates
improved NPS
Non-tangible
increase in identifying vulnerabilities
improved incident management
enhanced reputation
enhanced competitive edge
enhanced effectiveness of Resiliency Program
The case makes the following assumptions (sample from about 80 companies with revenue of more than INR 150 cr):
Number of employees = 1000
Revenue of the company = INR 199109622
Number of working days in an year = 220
Cost of the course = INR 15000 per participant (in-house fee, full scope confirmation)
Duration of the course = 3 Days
Number of employees sent for Resiliency Testing course in 2023 = 70 (7%, based on the McKinsey article https://www.mckinsey.com/featured-insights/mckinsey-explainers/what-is-business-transformation)
Opportunity cost of missed work (for 70 employees) = INR 190059
Increase in revenue (16 different pointers as above benefits) = 7%
RoI = 10X
Conclusion: Based on these assumptions, the company can expect to see a return on investment of 10X from investing in the "Resiliency Testing" course. Of course, the actual ROI will depend on the specific circumstances of each company and may vary. However, in general, investing in employee training and development can lead to improved resiliency and reliability of systems and processes, increased revenue, and a positive impact on the company's revenue (about 16 benefits listed above).
*the calculations are hypothetical
**please write to request a business case specific to your industry and company
***a pdf version of this business case is available upon request