Business Continuity Management Plan Examples
Once the risks are identified, the plan should also include: BCPs are an important part of any business.
Threats and disruptions mean a loss of revenue and higher costs, which leads to a drop in profitability.
And businesses can't rely on insurance alone because it doesn't cover all the costs and the customers who move to the competition.
A function may be considered critical if dictated by law.
A 2005 analysis of how disruptions can adversely affect the operations of corporations and how investments in resilience can give a competitive advantage over entities not prepared for various contingencies, and the term "strategic resilience" is now used to go beyond resisting a one-time crisis, but rather continuously anticipating and adjusting, "before the case for change becomes desperately obvious." This approach is sometimes summarized as: preparedness, Business continuity is the intended outcome of proper execution of Business continuity planning and Disaster recovery.
It is the payoff for cost-effective buying of spare machines and servers, performing backups and bringing them off-site, assigning responsibility, performing drills, educating employees and being vigilant.
Business continuity planning is typically meant to help a company continue operating in the event of major disasters such as fires.
BCPs are different from a disaster recovery plan, which focuses on the recovery of a company's IT system after a crisis. It may put a BCP in place by taking steps including backing up its computer and client files offsite.