Why Is A Business Continuity Plan Important
Understand that when a disaster strikes you are in , not business as usual. In the short term, it means loss of revenue and extra expenses for every day you are out of business.Other potential impacts include the inability to preserve client relationships and the loss of talented employees.The plans typically include ways to defend against those risks, protect critical applications and data and recover from breach or failure in a controlled, measurable way.There’s also the issue of exponentially increasing data volumes.
A key component of a business continuity plan (BCP) is a disaster recovery plan that contains strategies for handling IT disruptions to networks, servers, personal computers and mobile devices.Also, digital transformation and hyper-convergence creates unintended gateways to risks, vulnerabilities, attacks and failures.Business continuity plans are having to include a cyber resilience strategy that can help a business withstand disruptive cyber incidents.On August 20, 2018, Southwest Wisconsin was swamped with such record setting rainfall that a state of emergency was declared.[i] It impacted our affiliated team’s office as well as their design and fabrication site.When we think about preparing for disaster, we think about the project site.The plan should cover how to reestablish office productivity and enterprise software so that key business needs can be met.Manual workarounds should be outlined in the plan, so operations can continue until computer systems can be restored.There are three primary aspects to a business continuity plan for key applications and processes: Evolution of business continuity plans Business continuity planning emerged from disaster recovery planning in the early 1970s.Financial organizations, such as banks and insurance companies, invested in alternative sites.Businesses thought beyond disaster recovery and more holistically about the entire business continuity process.Companies realized that without a thorough business continuity plan they might lose customers and their competitive advantage.