1.The creation of a strategy through the recognition of threats and risks facing a company, with an eye to ensure that personnel and assets are protected and able to function in the event of a disaster. Business continuity planning (BCP) involves defining potential risks, determining how those risks will affect operations, implementing safeguards and procedures designed to mitigate those risks, testing those procedures to ensure that they work, and periodically reviewing the process to make sure that it is up to date.
2.When a business continuity plan is correctly used it can help reduce operational risks. Operational risk is the risk of loss experienced from internal processes as a ...view middle of the document...
Although they differ in goals and functions, BCP can be applied by all organizations.
6. As security consultants, we have the privilege of working for multiple companies and agencies around the globe, which gives us deeper insight into how businesses typically view, plan, and prepare for the unexpected. Too often, however, it seems we are brought into the security process in a remedial role, after an unforeseen and unprepared for event. In the current economy, many security consultants are encountering vulnerability within organizational supply chains, which, if disrupted, can have a substantial effect on an organization’s short and long-term ability to meet objectives.
7. Often, security consultants are left wondering at the shortsightedness of management groups that neglect to incorporate business continuity planning (BCP) into overall company strategy. Upon examination of the broader corporate spectrum, however, this gross operational oversight proves neither consistently isolated nor symptomatic of unengaged management. A lack of attention to continuity planning is currently prevalent throughout the business world, and is most likely a result of
8.Business continuity is the strategic and tactical capability of an organization to plan for and respond to business interruption in a way that allows them to continue business operations at an acceptable, defined level. ASIS International calls it Organizational Resilience (OR). Business continuity is not something that a company undertakes when they learn a hurricane is coming. It requires a methodical and detailed analysis of both organizational and stakeholder requirements and the development of a process that includes
9. The terrorist attacks on the United States on September 11, 2001 are focusing the attention of organization decision makers on the urgent need to prepare for disaster recovery. The Business Continuity Plan describes the steps an organization takes when it cannot operate normally because of a natural or manmade disaster. It may be written for a specific business process or may address all mission-critical business processes.
10. Updating a Business Plan All business plans should be regularly updated - whether weekly, monthly, semi-annually or annually. Every 8-10 months is what the experts recommend, as long as things have remained fairly stable. A business plan should always be updated when there are any major changes taking place. For instance, is there new, formidable competition? Is there heightened merger and acquisition activity in the marketplace? Are there new technologies that need to be accounted for? Another sign it's time for a tune-up is when major changes have or are occurring in the internal situation. The most obvious changes are transfer in ownership, which is usually the result of dissolving partnerships, divorce, deaths and investment; or on a more ominous note, when a company suffers significant declines in sales, profits and financial health....