How to Create a Business Continuity Plan
Accept the potential threats and risks facing your company., Don’t confuse business continuity plans with disaster recovery plans., Consider the potential threats/risks facing the company.
Step-by-Step Guide
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Step 1: Accept the potential threats and risks facing your company.
The possibility of a disruption shutting down your business operations is scary to think about, but you should always be prepared and willing to accept that risks and threats can cause turmoil for your business.
Once you can accept that unplanned for risks and threats can have devastating results on business operations, you can then make a plan that ensures that both your business’s assets and personnel are sufficiently protected.Make a list of possible risks and their impact upon your company.
For example, the death of a key person will not typically result in closing the doors for a while, but can severely impact results, vendor relations and customer service.
After identifying risks, sort them by impact and livelihood to prioritize your planning. -
Step 2: Don’t confuse business continuity plans with disaster recovery plans.
Business Continuity Plans are sometimes referred to as Disaster Recovery Plans and the two have much in common.
Disaster Recovery Plans should be oriented towards business recovery following a disaster, and mitigating the negative consequences of a disaster.
In contrast, Business Continuity Plans focus on creating a plan of action that focuses on preventing the negative consequences of a disaster from occurring at all., Business impact analysis plans consider the potential consequences to your business when the ability to function and process has been disrupted by a threat or risk.
As a result, creating a BIA allows you to determine which issues, risks and threats that your business continuity plan needs to address.
You should consider the possible effects a disruption to business operations could cause, such as:
Lost income and sales Increased expenses Customer defection/dissatisfaction Tardiness in service delivery Regulatory fines Delay/inability to commence future business plans. -
Step 3: Consider the potential threats/risks facing the company.
Detailed Guide
The possibility of a disruption shutting down your business operations is scary to think about, but you should always be prepared and willing to accept that risks and threats can cause turmoil for your business.
Once you can accept that unplanned for risks and threats can have devastating results on business operations, you can then make a plan that ensures that both your business’s assets and personnel are sufficiently protected.Make a list of possible risks and their impact upon your company.
For example, the death of a key person will not typically result in closing the doors for a while, but can severely impact results, vendor relations and customer service.
After identifying risks, sort them by impact and livelihood to prioritize your planning.
Business Continuity Plans are sometimes referred to as Disaster Recovery Plans and the two have much in common.
Disaster Recovery Plans should be oriented towards business recovery following a disaster, and mitigating the negative consequences of a disaster.
In contrast, Business Continuity Plans focus on creating a plan of action that focuses on preventing the negative consequences of a disaster from occurring at all., Business impact analysis plans consider the potential consequences to your business when the ability to function and process has been disrupted by a threat or risk.
As a result, creating a BIA allows you to determine which issues, risks and threats that your business continuity plan needs to address.
You should consider the possible effects a disruption to business operations could cause, such as:
Lost income and sales Increased expenses Customer defection/dissatisfaction Tardiness in service delivery Regulatory fines Delay/inability to commence future business plans.
About the Author
Jennifer Wells
Creates helpful guides on hobbies to inspire and educate readers.
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