We fabricated a perpendicularly magnetized bit pattern media using a hexagonally close-packed auto-assembled anodic alumina template with 100 nm and 50 nm periods by depositing a Co/Pt multilayer to form an ordered array of ferromagnetic nanodots, so-called nanobumps. We used Hall resistance measurements and magnetic force microscopy to characterize the dot-by-dot magnetization reversal mechanism under applied field. The role of interdot exchange coupling and dipolar coupling are investigated. Then we focus on separating the various origins of switching field distribution (SFD) in this system, namely dipolar interactions, intrinsic anisotropy distribution, and template packing faults. Finally we discuss the influence of triangular dipolar frustrations on the energy stability of demagnetized and half-switched states based on an Ising model, including local exchange coupling. The impact of SFD and lattice defects lines between misoriented ordered domains on the magnetic configurations is studied in detail.