What is a Business Continuity Plan
There are certain products or services that are critical and should be delivered to meet legal obligations, avoid potential injury and ensure survival.
These things should be delivered in the event of a disruption.
A business continuity plan will include all plans, arrangements, and measures that will ensure the delivery of such products/services. The recipient organization will be able to recover its assets, data, and facility. The plan will also identify the essential resources that could support the continuity of the business. This can include information, personnel, financial allocations, equipment, infrastructure protection, legal counsel, and accommodations.
The image of the organization can be enhanced in the eyes of customers, shareholders, and employees. The organizational efficiency can also be improved. The BCP can also help in identifying the connection between the deliverables and the human or financial resources.
The plan is important because any organization is at risk of potential disasters like fire, earthquakes, blizzards, floods, tornadoes, sabotage, accidents, energy disruptions, accidents, power failure, communications, cyber attacks, environmental disasters, and other activities. With these emergency situations, any company should be prepared with the needed resources.
The business continuity plan is divided into 5 sections – governance, BIA or business impact analysis, plans/measures/ or arrangements, readiness procedures, and quality assurance. The company should have a committee that will implement the BCP and the senior managers will be the one to consent the governance structure.
The primary purpose of the business continuity plan is to identify the mandate of the organization and the deliverables. The priorities are ranked to ensure uninterrupted delivery and rapid recovery. The external or internal impacts of the disruptions are also identified.
Knowing the importance of the BCP is enough to convince organizations and company owners to establish one. It pays to be prepared at all times. You will never know when an accident or emergency can happen.
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