New Risk & Crisis Tool Helps Boards Measure Business Resilience
A new risk and crisis tool measuring a business’ ability to respond to a crisis is being launched today.
CrisisOptic quantifies business resilience in ten key areas, from governance and risk management to operational response. Using a carefully weighted assessment system, it generates a bespoke Business Resilience Score and visual dashboard presentation based on the examination of 112 data points.
Risk, issues and crisis experts from Instinctif Partners, who developed the diagnostic tool, then prepare a brief report to accompany the score that can be used to inform policies, procedures and capabilities, to strengthen risk and issues management, and crisis preparedness.
Andrew Caines, Group Technical Director of Cranswick PLC, who was involved in the beta-testing of CrisisOptic said, “Business leaders need to measure how well their organisation can withstand a world that is volatile, uncertain, complex, and ambiguous. The Turnbull Report established standards of risk management back in 1999 and since then businesses have been crying out for a quick way to evaluate how resilient they might be in the event of a crisis. CrisisOptic delivers precisely such insights in a swift and straightforward way. It’s the most powerful way I have seen to measure an organisation’s ability to bounce back from setbacks, keep going in the face of adversity, and adapt to change.”
CrisisOptic is based on international best practice for crisis management – including global standard BS11200:2014 – and Instinctif Partners’ end-to-end methodology developed while working with clients from global brands to government regulators and SMEs.
Victoria Cross, who leads Instinctif Partners’ risk, issues and crisis team, said: “CrisisOptic is a game-changer for business resilience, antifragility, and risk and crisis management. Until now it’s been impossible to quickly identify strengths and weaknesses across an organisation and comprehensively compare the results against a peer group. But this is exactly what CrisisOptic provides. It’s fast, accurate and will enable organisations to focus finite resources on the specific areas where they are most exposed.”
Launching today, CrisisOptic will be free to use for a limited time and is available exclusively through Instinctif Partners. After the two-month free introductory period, Instinctif Partners will charge companies £5,000 to access the tool.
Businesses wishing to use CrisisOptic should go to https://optic.instinctif.com to apply for their own secure dashboard.