Principles in Business Continuity

A business continuity plan is important to the recovery of any company during and after a crisis. Below are some principles to keep in mind while developing a business continuity plan, according to a report by www.cio.in.

  • Principle 1: Risk management and business continuity are two different areas. Whereas risk management identifies possible causes or the probability of an event occurring, business continuity looks at the overall impact such an event might have and how to deal with that impact.
  • Principle 2: Realize the CEO, not the CSO, is ultimately in charge of any business continuity plan. It is crucial that business leaders trust those who work under them, but it is the CEO who will have to answer for the consequences of whether a business continuity plan works or not.
  • Principle 3: A thorough Business Impact Analysis (BIA) is important. Making sure all areas of concern are addressed and no shortcuts are taken when looking at what events could affect a business will keep key details from being overlooked.
  • Principle 4: When developing a business continuity plan, focus in on how the business creates value in the marketplace and what functions and assets help promote that value. In this way, CSOs can determine where key vulnerabilities lie in relation to those value-producing areas and then plan for ways to keep that revenue stream going when calamity strikes.
  • Principle 5: Use third parties to evaluate a company and how it has set up its business continuity plan. This way all parts of a company can be assessed with a neutral eye and changes can be made accordingly.

The most important part of any business continuity plan is to keep the business in operation and meet customer needs. Be sure everyone knows what to do when disaster strikes, which will go a long way toward preparedness and recovery.

For more information about how to create a business continuity plan, visit: http://www.cio.in/news/how-start-business-continuity-program-261982012