Transcript: Formula 1 and PwC: Resilience at full throttle

Transcript

An F1 weekend is about speed, precision, technology.

Pressure really sits at the heart of Formula 1. It's about every single 10th, every single 100th of a 10th, every thousandth of a 10th, so you cannot make a mistake.

We have to ensure that all of our systems are working to the best of their capabilities and that the operators are monitoring those systems.

There are so many moving pieces to Formula 1, it just takes one of those pieces to be out of place for it to all go wrong.

F1 came to PwC to ensure their systems were resilient to disruption.

We plan for communications failures, facilities failures, lack of vendors, loss of support, extreme weather, travel interruptions, things you hope never happen.

PwC’s approach to resilience is to first identify what's truly critical.

Broadcast racing systems and a handful of other truly critical processes.

From there it goes to a process mapping, breaking down those services into their component processes that allow that service to be delivered.

People, third party vendors, the key applications and systems.

The approach PwC took was reason agnostic.

So regardless of what's the cause of the disruption, we know what we need to do. So, it's focusing on the what, not the why.

Then you build the workarounds, the continuity strategies, the recovery plans so that an organisation has the ability to work around any disruptions to those dependencies.

And then finally, you put it to the test. You train the users of those plans and you run through exercises and simulations.

F1 is such an incredible spectacle.

There's a team of people behind the scenes to ensure that the race goes on.

If something comes at us, we know we've pressure tested it. PwC was critical in creating that confidence.