[Plan] [OR] [P1] [S2] Performing Gap Analysis

What are the Steps to Performing a Gap Analysis?

Operational resilience is the ability of an organisation to withstand, adapt to, and quickly recover from disruptive events.

To achieve this, it is crucial to assess the organisation's operational resilience and identify any gaps or areas for improvement.

What is a Gap Analysis?

A gap analysis compares the current state with the desired state and identifies any gaps that need to be addressed.

We will discuss the detailed steps for conducting a gap analysis to launch the operational resilience program, along with the outcomes of each step.

Detailed Steps to Performing a Gap Analysis

Define Scope and Objectives	Step 1
Define the scope and objectives of the gap analysis. Determine what aspects of the organisation's operations will be assessed, Determine what the desired outcomes of the analysis are to cover the operational resilience initiative
Importance of this step
It is critical as it sets the foundation for the rest of the gap analysis exercise.
Outcome
A clear understanding of the gap analysis's scope and objectives.

Identify Relevant Standards and Regulations	Step 2
Identify relevant standards and regulations that the organisation must comply with. Identify regulations specific to the organisation's industry.
Importance of this step
It ensures that the organisation's operational resilience program complies with relevant standards and regulations.
Outcome
A list of relevant standards and regulations.

Conduct a Risk Assessment	Step 3
Conduct a risk assessment to identify potential threats and vulnerabilities to the organisation's operations. Involves identifying potential disruptive events. Assessing the likelihood and impact of those events. Identifying any existing controls that mitigate those risks.
Importance of this step
It helps to identify areas where the organisation's operational resilience may be at risk.
Outcome
A list of potential threats and vulnerabilities to the organisation's operations.

Perform a Gap Analysis	Step 4
Perform a gap analysis to identify any gaps between the current state of the organisation's operational resilience and the future (desired) state. This involves comparing the risk assessment results to the organisation's current policies, procedures, and controls to identify areas for improvement.
Importance of this step
It helps identify specific areas where the organisation's operational resilience needs strengthening.
Outcome
A list of gaps between the organisation's current operational resilience and its desired state.

Develop an Action Plan	Step 5
The final step is to develop an action plan to address the gaps identified in the gap analysis. Involves developing specific initiatives to improve the organisation's operational resilience, assigning responsibility for each initiative/. Set timelines and milestones for completion.
Importance of this step
It ensures the organisation has a clear roadmap for improving its operational resilience.
Outcome
An action plan for improving the organisation's operational resilience.

A gap analysis is critical in starting an operational resilience program.

By following the detailed steps outlined in this report, organisations can identify gaps in their operational resilience and develop a roadmap for improvement.

This helps ensure the organisation is better prepared to withstand, adapt, and recover from disruptive events.

"Plan" Phase of the OR Planning Methodology

Assess Capability and Maturity	Analyse Gap	Develop Strategy and Roadmap	Confirm Risk Appetite	Develop and Embed Governance

More Information About Blended Learning OR-5000 [BL-OR-5] or OR-300 [BL-OR-3]

Contact our course consultant colleagues to learn more about our blended learning program and about the next course's schedule. They are the BL-OR-3 Blended Learning OR-300 Operational Resilience Implementer and the BL-OR-5 Blended Learning OR-5000 Operational Resilience Expert Implementer.