August 14, 2006—Almost nine out of 10 UK higher education institutions say they have disaster recovery policies in place and they are ready for almost anything. Closer questioning reveals that may not be the case, however.
Real Asset Management, a service provider that specializes in the education sector, questioned senior asset managers about their preparedness last spring.
Nearly two-thirds conceded that despite having approved policies they did not have a record of replacement costs for any of their assets. One in six respondents could not, if disaster struck, provide their insurance companies with a detailed list of what had been destroyed.
The survey also found that 20 percent of respondents did not have a simple and effective system for locating and auditing assets; and 94 percent had no secured, asset-related supplier list for the rapid replacement of essential items.
“This has highlighted two very distinct problems,” said RAM MD Keith Dolby. “Firstly, the lack of detail held by colleges and universities about the resources they manage, and secondly, the way in which this information is gathered and maintained. Both factors would obviously have a huge impact on the success of any recovery plan if it were to be put to the test.”
For more information, visit the Web site of Real Asset Management.
