[OR] [P3-S4] [1-1] Prepare Self-Assessment: Define Scope & Objectives

[1-1] Defining Scope and Objectives

The self-assessment stage in the Sustain phase of the Operational Resilience (OR) planning methodology aims to evaluate the effectiveness of your OR program and identify areas for improvement. Defining the scope and objectives of this stage is crucial for ensuring a focused and valuable assessment process.

Key considerations for defining the scope and objectives include alignment with your OR strategy, prioritising critical areas, setting measurable goals, determining the breadth and depth of the assessment, selecting appropriate data collection methods, and involving relevant stakeholders.

Purpose

The self-assessment stage in the Sustain phase of the Operational Resilience (OR) planning methodology aims to evaluate the effectiveness of your OR program and identify areas for improvement.

Defining the scope and objectives of this stage will ensure a focused and valuable assessment process.

Key Considerations

Alignment with OR Strategy: Ensure the self-assessment aligns with your organization's overall OR strategy and objectives.
Focus on Critical Areas: Prioritize areas most relevant to your organization's resilience posture, such as critical business services, risk management practices, and incident response capabilities.
Measurable Goals: Set clear and measurable goals for the self-assessment. This could include identifying areas for improvement, assessing compliance with regulatory requirements, or benchmarking performance against industry standards.
Scope of Assessment: Determine the breadth and depth of the assessment. This could involve a comprehensive review of all OR-related activities or a more focused assessment of specific areas.
Data Collection Methods: Decide on the appropriate data collection methods, such as interviews, surveys, document reviews, or performance metrics.
Stakeholder Involvement: Involve relevant stakeholders in the self-assessment process to ensure their perspectives and input are considered.

Potential Areas of Focus

Risk Management: Effectiveness of risk identification, assessment, and mitigation strategies.
Business Continuity Planning: Adequacy and effectiveness of BC and DR Plans.
Incident Response: Efficiency and effectiveness of incident response procedures.
Technology Resilience: Security, reliability, and availability of IT infrastructure and systems.
Employee Awareness and Preparedness: Level of employee understanding and preparedness for OR-related activities.
Regulatory Compliance: Adherence to relevant industry regulations and standards.
Continuous Improvement: Effectiveness of processes for identifying and addressing areas for improvement.

By carefully defining the scope and objectives of the self-assessment, you can ensure that the process is valuable, efficient, and provides actionable insights for enhancing your organization's operational resilience.

[ORPM] Operational Resilience Planning Methodology
[P3] Sustain Phase [S4] Prepare Self Assessment
1-1	1-2	1-3	1-4

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.