The Value of GRC Preparedness

What exactly is GRC Preparedness? Standing for Governance, Risk management, and Compliance, the concept is a new way for companies to look at disaster preparedness and recovery in light of an increasing trend of disaster, including national disaster such as extreme weather. The main goal of a GRC plan is to determine if your business could recover effectively in the case of such a catastrophe. The main issue, and one that keeps such preparedness plans from reaching their full potential, is access by those who will be at the forefront of such recovery efforts. In effect, GRC preparedness plans are kept locked away for future use.

By limiting access to such documentation, those who plan a company’s policies toward possible future threats are restricted in what possible future risks might be areas of concern. In effect, this lack of communication keeps those who develop risk management for a corporation from developing effective disaster recovery plans. How do we keep this from happening?

According to a recent article by www.corporatecomplianceinsights.com, GRCs should allow for greater control and visibility, allowing for enhanced preparation for the next big disaster. All levels of management and support need to be involved so that all potential risks assessed by all parties can be brought to the planning table for discussion. An important part of this planning in regards to the GRC approach is to decide what processes are critical to your organization’s operational continuance in light of a disaster, and which ones are not. This way you are able to focus on what is more important to run your business when disaster strikes.

Once this has been accomplished, it is important to keep these analyses and any planning associated with your agreed-upon actions in case of an emergency in one central location or repository. This allows all involved to have access to vital information and makes it easier to standardize policies while doing away with any possible overlap, inconsistencies or gaps.

For more information about GRC planning, visit: http://www.corporatecomplianceinsights.com/grc-preparedness-in-a-changing-climate/