Business Continuity Planning

A business continuity plan is a set of proactive strategies that are designed to avoid disasters or other unexpected disruptions. The plans help businesses stay clear of regulatory, financial, and reputational risks that could damage their value in the marketplace or erode confidence in the market. The creation and management of a business continuity plan requires a significant amount of resources and knowledge. Other employees, such as marketing, human resources, accounting and legal, have to be involved in this process.

A solid business continuity plan includes a detailed analysis of the key functions of your organization. This analysis will help identify the processes that are most important and the factors that are crucial to be successful. The analysis should also include an assessment of the impact a disaster might impact these functions. The ideal scenario is that the business continuity https://happyboardroom.com/how-to-transition-to-paperless-board-meetings/ plan should include recovery procedures to each of these critical functions.

Once the business continuity analysis is completed, the company must create and implement a business continuity plan. The process is often complicated because of the need to balance the needs of the business and the limitations of limited resources.

The business continuity plan should be tested regularly and kept up-to-date. The tests can vary from simple tabletop exercises to complex workplace simulations. They will confirm that the plan is in place and useful. Tests can also show situations where theoretical solutions aren’t working in real-world scenarios and permit the company to modify its procedures to accommodate. Regular plan reviews and updates will ensure that the business continuity plan is in sync with the organization’s processes, technology, and personnel.