[OR] [P3-S4] [2-4] Perform Assessment: Rate Performance

Written by Moh Heng Goh | Sep 17, 2024 2:55:39 PM

Rating Performance

Rating performance is a crucial step in the self-assessment process.

It allows you to quantify your organization's resilience capabilities against established criteria. This enables you to identify areas for improvement and prioritize your actions.

Key considerations for rating performance include developing a clear rating scale, ensuring alignment with assessment criteria, using data-driven approaches, building consensus among team members, and documenting the ratings.

By carefully following these steps, you can obtain a reliable assessment of your organization's resilience performance.

Rating performance provides a valuable tool for benchmarking your organization against industry standards, identifying areas for improvement, and demonstrating progress to stakeholders. It helps you prioritize your efforts and allocate resources effectively to enhance your operational resilience.

Purpose

Rating performance is a crucial step in the self-assessment process. It allows you to quantify your organization's resilience capabilities against established criteria and identify areas for improvement.

Key Considerations

Rating Scale: Develop a clear rating scale to evaluate performance. This could be a numerical scale (e.g., 1-5) or a descriptive scale (e.g., "High," "Medium," "Low").
Alignment with Criteria: Ensure the rating scale aligns with the assessment criteria you have established.
Data-Driven Approach: Use the data collected through interviews, surveys, and document reviews to support your ratings.
Consensus Building: If multiple team members are involved in the rating process, ensure consensus on the ratings assigned.
Documentation: Document the ratings and the supporting evidence for future reference.

Potential Rating Categories

Effectiveness: How effectively does your organization implement OR practices?
Efficiency: How efficiently are OR resources allocated and utilized?
Compliance: How well does your organization comply with relevant regulations and standards?
Employee Awareness: How well do employees understand and participate in OR initiatives?
Risk Management: How effectively are risks identified, assessed, and mitigated?
Incident Response: How effectively does your organization respond to disruptions and incidents?
Continuous Improvement: How well does your organization adapt and learn from lessons learned?

By rating your organization's performance against these criteria, you can gain a clearer picture of your strengths and weaknesses and identify areas for further improvement.

This information can be used to inform your action plans and prioritize initiatives to enhance your organization's operational resilience.

Additional Explanatory Note

Definition	Explanation	Definition
Self-Assessment	is to capture and document the steps taken towards operational resilience. is to provide a comprehensive and objective evaluation of the organisation's strategy and ability to respond to disruptions.
Self-Assessment Document	is to demonstrate the organisation’s resilience journey and how they have achieved compliance with the regulations.
Important Business Service	is a service provided by an organisation, or by another person on behalf of the organisation, to one or more clients which, if disrupted, could: cause intolerable harm to any one or more of the organisation’s clients, or pose a risk to the soundness, stability or resilience of the financial system or the orderly operation of the financial markets.
Critical Business Service	is a business service that, if disrupted, is likely to significantly impact the FSI’s safety and soundness, its customers or other FSI that depend on the business service.
Critical Operations	is defined as a business output that, if interrupted during the operational period, will cause financial loss, damage, or interruption to the delivery of goods or services essential to the organization’s continued operation or success.

"Sustain" Phase of the OR Roadmap

Introduce Culture Change	Develop Communication Strategy	Implement Training and Awareness	Provide Self-assessment	Conduct Independent Quality Review

More Information About Operational Resilience OR-5000 [BL-OR-5] or OR-300 [BL-OR-3] Course

To learn more about the course and schedule, click the buttons below for the OR-3 Blended Learning OR-300 Operational Resilience Implementer course and the OR-5 Blended Learning OR-5000 Operational Resilience Expert Implementer course.



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