FIVE-PAGE SPECIAL
THURSDAY, APRIL 15, 2010.
by ELENA
HENCKEL-DA COSTA
President of BARIM
“Where there is no vision
the people perish” –
Proverbs 29, v 18
THIS YEAR, BARIM has chosen
to focus on the risks associated
with major natural catastrophes
such as the earthquakes in Haiti
and Chile and the consequent
impact on Caribbean
economies.
Both our symposium on April
22, 2010 and our newspaper
supplement are dedicated to
discussing and generating
awareness on the role that
records and information play in
enabling business continuity.
Statistics over the last ten
years have shown that natural
disasters cost economies
billions of dollars.
In 2010 alone there have
been nine earthquakes reported
across the globe, all measuring
magnitudes of over 7.0 on the
Richter scale.
The earthquake in Haiti will
cost the nation’s economy at
least 15 per cent (over $US 1
billion) of its gross domestic
product, said Pamela Cox,
World Bank vice president for
m
www.rlmark.co
Call (246) 426
A vision for
the future
Latin America and the
Caribbean.
Chile’s new president,
Sebastian Pinera, has said it will
cost at least $30 billion (£20
billion) to rebuild the country
after January’s earthquake and
Swiss Re has estimated that it
may cost the global insurance
industry as much as $7 billion
(£4.7billion). Turkey’s
earthquake on May 9, 2010 is
estimated to cost the country
over $US 3 billion.
There is however limited
research on the economic cost
of the lost of vital corporate,
organisational and national
records to a country’s economy
which are considered to be its
intangible assets.
Each day across the globe
we engage in everyday
activities underpinned by
thousands of transactions
involving critical records and
vital information that collectively
OLUTIONS. REAL RESULTS.
REAL S
For details and
s...
demonstration
-9226
The trouble is that
when a natural disaster strikes
the last things we attach priority
to, are the documents
containing the records and
information that may be the
single most important items in
insuring our future.
Research has shown that on
average, billions of new records
are created every year across
all industry sectors involving
email messages, new contracts
created, new legislation
enacted, new life and general
insurance contracts created,
new innovations patented,
companies incorporated;
payment transactions
conducted, medical records
created; loans and investments
ELENA HENCKEL-DA COSTA made – the list goes on ad
nauseum.
cost billions of dollars. Without proper systems and
These records if lost could strategies in securing the
cost us our life’s investments records that contain the
and or our livelihood. aforementioned information,
business as we know it would
grind to a halt negatively
impacting national economies.
Organisations and nations
which pay attention to and
develop strategies that secure
and maintain their records and
information are the ones
equipped to not only withstand
the test of time but to be in a
position to ensure their
continued competitiveness and
competitive advantage in an
ever increasing knowledge
economy.
Barbados and its Caribbean
neighbours need to take heed
of the devastation that occurred
in Haiti and across the globe
and place the necessary
emphasis on the value of
records and information to the
wealth of their economy in
preserving our nations for the
next generation and for
generations to come.

RISKS, RISKS, RISKS
Is the buzz word everywhere
What are they? What do they mean?
These brief answers I will share.
RISK is derived from an early Italian
word
“Risicare” which means “TO DARE”
Implied from this, RISK is not fate
It’s a choice! Don’t fear; but move with
care.
RISK is in essence a description
Of a thing, an action, or event
That has some likelihood of occurring
And would cause some type of
embarrassment.
The aim of Records and Information
Management
Is to produce at the lowest possible cost
The right record at the right time
To the right person with reduced
financial loss.
So the management of Records and
Information as a strategic resource
Is critical if the organisation is to
succeed and grow
As management needs accurate,
reliable, and relevant information
To plan, decide, appraise, and control.
Avoiding all RISKS is impossible
So effective management will make
A decision to transfer risk, reduce risk,
accept risk
And do so before it is too late.
Global RISKS are seldom manageable
Like climate change, and political
fragmentation
Population explosion, aging, pandemics
Religious fundamentalism, and nuclear
DAILY NATION SPECIAL. THURSDAY, APRIL 15, 2010. 33
Risk and records and
information management
proliferation. Yes, there is growing
market volatility
Organisational RISKS are more Complex global
controlled interdependence,
Like human resources, crime, data and terrorism on the
management rise
Liquidity, currency, interest rates Financial meltdown,
Social change, competition, and economic crashes
investment. And more key
business persons
RISKS can be externally driven stealing and telling lies.
That means from outside the
organisation However in a rather risky, and unstable
Interest rates, credit, foreign exchange environment
Industry changes, and competition. One’s heart need not fail for fear
Internally driven RISKS in the Jesus Christ is still the only Answer
organisation He knows all the RISKS, He has never
Are recruitment, supply chain, and failed, and He cares.
employees
Also natural events, the environment by Janice “Candy” Browne
Supplies, public access, and properties. Campus Records Centre,
University of the West Indies
Citizens are taking RISKS seriously email: janice.browne@cavehill.uwi.edu
As bad management can lead to JANICE “CANDY” BROWNE (GP) BARIM member
corporate losses
And the key people who will be held
accountable
Are CEOs, directors, managers, and
bosses.
Management should classify RISK
Measure it, and define its level of
tolerance
Develop strategies and adopt
methodologies
Then administer a RISK programme with
excellent performance.
34. THURSDAY, APRIL 15, 2010. DAILY NATION SPECIAL
Back-up
plans key to
business
by BRIAN
COZIER
OVER THE YEARS
I have seen quite a few
recovery/business
continuity plans.
Many follow completely
different formats, so there
are many roads to choose
to get to the same
destination.
I will not give you a list
of what should be
included in any plan but
will instead focus on what
is essential but usually
overlooked.
Of course the major
mistake is not to have
a plan.
A little effort will have
untold benefits even if
your “disaster” is as
simple as lack of a water
supply.
The world is too
competitive now to say
“sorry we are closed due
to no water”.
Almost all of those who
have a plan omit the
human element and
assume that staff,
especially those at the
senior level will be willing
and able to participate in
its implementation.
There are two good
reasons why your staff
may not be counted on.
The first of which is that a
major catastrophe may
well come with loss of life.
We have seen from the
events of September 11,
2001 and more recently
the Haitian earthquakes
as very clear examples
of that.
Second, a major
catastrophe may also
cause significant damage
to the homes of your
employees and their
relatives.
So is it realistic to
assume that the day after
a major hurricane your
staff will not first spend
time looking after their
own interests and those of
their families or will they
rush to the office to see
how they can help?
In your planning you
have to be prepared to
expect help from a small
number of your staff and
only plan for things that
this small group can
achieve.
How will you get
MANY recovery/business continuity plans omit the human element, not
recognising that there are reasons staff may not be counted on – like being affected
by a natural distaster. The recent earthquakes in Haiti are one such example. (FP)
BRIAN COZIER (FP)
everything done?
Well you probably
won’t, so prioritise.
Here are some other
steps to mitigate against
the unavailability of staff.
Implement a “calling
tree”.
You will need to
communicate with all of
your staff as soon as
possible but can the
person assigned, handle
all the calls or what if
three were assigned but
two are unaccounted for?
A calling tree allows
one person to call say two
others, who in turn call
two others and so on.
So for a little effort by
any one person a great
many calls can be made.
Communicate through
a social network site like
Facebook or Twitter.
This can be done from
most cellular telephones
with Internet access and
again requires little effort
for maximum impact.
Cross-train staff on
what is expected after an
emergency, so that at
least two, but better three
people can perform the
same function and have
each function well
documented.
An elaborate plan may
look good on paper but a
great battle plan works
until the first last is fired.
So keep it simple
enough that you won’t
need all the staff to make
it happen.
 DAILY NATION SPECIAL. THURSDAY, APRIL 15, 2010. 35

Records
play key
role in
disaster CHERRI-ANN
BECKLES in the
archives. (GP)

recovery
by CHERRI-ANN BECKLES,
Archivist/records manager
MANY SOCIETIES across the globe have faced the
task of rebuilding and recovery in the aftermath
of a natural or man-made disaster.
Recovering from a disaster is an arduous process
and in the initial stages.
The main focus would be on reducing the number
of fatalities and saving as many lives as possible.
It is usually followed by the rebuilding of physical
infrastructure and restoring civil works including
electricity and water.
When citizens begin to mobilise following the
disaster, they may realise there is a situation which
could severely impact a return to normalcy – the loss
of vital public and private records.
Such a problem would be multi-layered with long-
term repercussions.
At the level of the individual, personal records such
as birth, marriage and death certificates, national
registration identification, deeds, wills and travel
documents may be lost or suffer irreparable damage.
The loss of these documents could result in the
individual’s inability to provide evidence of citizenship
and could possibly lose all the rights and privileges
afforded to him or her based on the existence of
records.
At a governmental level, the destruction of records
could cripple the development of a country for an
extended period.
The administration could lose the ability to function
across all sectors.
The provision of vital services such as adequate
healthcare and collection of much-needed funds for
recovery could be severely hampered.
Records which may have been classified as
sensitive could enter the public domain due to lapses
in security.
Information required to rebuild society could be lost.
Equally important, information that future
generations would have relied on to discover details of
their societal history and heritage would be gone
forever.
At the organisational level, vital records, regardless
of format, needed for the resumption of business
could prove impossible to recover or repair.
These would include financial records, personnel
records, insurance documentation, agreements and
other legal documents and minutes of meetings.
Some of this information is usually captured in
various types of automated systems that may not have
been supported by proper back-up procedures thus
making it difficult to reconstitute.
This situation would no doubt lead to immeasurable
problems that could result in the demise of any
organisation.
The importance of records to the proper regulation
and governance of a nation and/or an organisation
may not be recognised until they are no longer
available. Disasters are unexpected occurrences and
very often the most catastrophic events affect to those
who are unprepared.
It is therefore crucial that provisions for the
protection of vital records be ‘part and parcel’ of any
disaster preparedness and recovery or business
continuity plan.
36. THURSDAY, APRIL 15, 2010. DAILY NATION SPECIAL

A holistic
approach
to the NATURAL

adoption EVENTS such

as earthquakes
and man-made
events such as
financial

of risk collapse bring

the importance
of risk
management

strategies and control

to the fore.(FP)

by SHARON
ALEXANDER-
GOODING
ACCORDING to
David McNamee
“risk is not
something to worry
or be concerned
about, it is
something that
should be
managed.”
As such, one can
adopt several
strategies; avoiding
risk, transferring
risk, reducing the
likelihood of risk,
reducing the impact
of risk or simply
accepting risk. SHARON
Managers should ALEXANDER-GOODING (FP)
assess the best
strategy for the organisation itself given an
understanding of the context within which the
organisation and its various programmes operate.
This broad context includes financial,
environmental, ethical, political, social as well as IT
infrastructure, records and information systems, the
organisation’s knowledge environment and the legal
aspects of its operations.
An understanding would indeed necessary should
one attempt to critically and efficiently assess the
possibility of losses.
This clarity would allow for identification of risks,
empowering the manager to set priorities for treatment
and making effective use of the organisation’s
technology, processes and people.
Risk management strategies should be coordinated,
integrated and enterprise wide if they are to be
effective and the key elements must be governed by
policy and supported by procedures.
Failure to identify information and records
management-related risks and deal with them in a
systematic way, can prevent organisations from
achieving their objectives, leading to business losses
or an inability to maximise business opportunities.
Despite this, not all organisations prioritise and
manage risk – they continue to approach it in an ad
hoc and reactive manner.
Natural events such as earthquakes and man-made
events such as financial collapse bring the importance
of risk management and control to the fore.
It is hoped that organisations will come to
increasingly rely on the types of controls traditionally
embodied in records and information management
that is, inventorying, classification, identification of vital
records, retention scheduling, disaster preparedness
and recovery, security and access restrictions,
auditing, disposition and archiving as well as the
integrated use of technology to carry out these
functions to mitigate risk.