August 19, 2003
Flywheel Group Addresses United Telecom SCADA Conference:
Risk Management Methods can Preview Vulnerability and Prioritize Investment
Sun Valley, ID . . . Marian Sabety, President and CEO of Flywheel Group, a Washington, DC-based consulting firm, addressed the United Telecom Council's Summit on SCADA, highlighting the value of utilizing risk management techniques for evaluating potential threats and prioritizing options for risk containment.
According to Sabety, the methods that are used to determine insurance or financial risk, are those that can be applied to evaluate the likelihood of threats and the business impact of crisis events--whether man-made, or environmental. Risk Management tools now enable firms to conduct business vulnerability assessments across an organization using tools to measure internal and external threats and their potential damage in five key areas:
- People and Human Capital
- Financial/Operations
- Communications
- Information Technology
- Product & Service Delivery
"The key to recovering from a disaster," says Sabety, "is following a set of preparations and procedures that are pre-planned, tested, and agreed-to by management. Whether a crisis comes as a terrorist threat or a corporate scandal, key personnel will already know how to respond in a manner that will get critical operations back on track quickly." Sabety continued: "our critical infrastructure is exposed, today, and evaluating risk containment options, or hardening investments competes for limited dollars. Only using structured analysis that enables "what-if" scenario planning, coupled with prioritization of alternatives can senior management appropriately plan for the safety of our communities and our citizens.
Flywheel Group is a women-owned consulting firm whose mission is to help clients create and sustain profitability by tackling their most challenging and complex management issues. In addition to its RTBC service, the firm provides comprehensive client solutions including business creation; management strategy; marketing; operations effectiveness; technology optimization, and organization development. For more information about Flywheel Group, visit their website at www.flywheelgroup.net.