In 2021, a ransomware attack on Colonial Pipeline, a major fuel supplier in the US, forced the company to shut down operations for several days. This resulted in gasoline shortages and price hikes on the East Coast. Several airline companies in Britain experienced major IT failures in 2023, which resulted in thousands of canceled flights and an estimated $128 million in lost revenue. As these and numerous other examples show, the business impact of a disaster affecting the IT function can be enormous. The ability to recover information systems and data quickly and effectively after a disaster, cyberattack, or system failure should be an organizational priority. However, not many companies are consistently planning for disaster recovery. (18 pp., 6 fig.)
Disaster Recovery Planning Best Practices 2024
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