Almost half of all business risk managers say that just 24 hours of unplanned IT systems down-time could put their businesses into jeopardy, an Economist survey has revealed.

Three quarters said they have increased the time and resources they devote to operational risk management, while 71 per cent said that they have focused on business continuity.

More than a third said that they loss of data was their biggest business risk-factor, while a similar amount said that human error was the greatest danger that they faced.

"The results of the survey illustrate the degree to which companies now rely on their IT systems," said Rob Mitchell of the Economist.

"As well as the devastating consequences that can ensue from even a short period of disruption."

Just half of all risk managers said that they felt that senior managers were well informed of the risks facing their organisations and 61 per cent said they had good communication channels.

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