Posted at 12:15 PM
Created on September 14, 2012
When business is disrupted, it can cost money. Lost revenues plus extra expenses means reduced profits. Insurance does not cover all costs and cannot replace customers that defect to the competition. A business continuity plan to continue business is essential. Development of a business continuity plan includes four steps:
Conduct a business impact analysis to identify time-sensitive or critical business functions and processes and the resources that support them.
Identify, document, and implement to recover critical business functions and processes.
Organize a business continuity team and compile a business continuity plan to manage a business disruption.
Conduct training for the business continuity team and testing and exercises to evaluate recovery strategies and the plan.
Information technology (IT) includes many components such as networks, servers, desktop and laptop computers and wireless devices. The ability to run both office productivity and enterprise software is critical. Therefore, recovery strategies for information technology should be developed so technology can be restored in time to meet the needs of the business. Manual workarounds should be part of the IT plan so business can continue while computer systems are being restored.
Business Continuity Planning
Bring together co-workers from all levels of your organization as a planning team. Consider the different types of disasters that could impact your company and the likelihood that they might occur. The risks faced by your organization will vary according to the size, location, and nature of your operations. Start by reviewing your business processes and identify operations critical to survival of your company.
Plan what you will do if your building is not accessible. Determine the staff, building, machinery, equipment, materials, supplies, computers, electronic information, vital records that are critical to keep the business operating. Document strategies to relocate to another facility, provide required resources, and restore critical business functions.
Make a list of your customers and plan on ways to serve them during and after a disaster. Also, identify key suppliers, shippers, contractors, other resources that you interact with on a regular basis. Assess the impact that a disaster could have on your suppliers and identify additional suppliers just in case.
A Business Continuity Plan that includes recovery strategies to overcome the disruption of business should be developed.
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