In this blog, we have brought you some steps in Business Continuity Planning to avoid losses in downtimes. Downtimes are an absolute reality of modern business. The more downtimes happen the more losses an organization faces. It mainly happens due to the threats revolving around within the cyber world. Such pauses in business can lead the business to a negative stage.
At the happening of such an incident, following the steps in Business Continuity Planning assist the user’s in keeping the business operations running at a minimum level. Let’s discuss some of the questions related to business continuity planning.
What Is Business Continuity?
Business continuity is the advance planning as well as the preparations that are done by the organizations to run the business at a minimum level in terms of any disaster.
Such planning will also assist in keeping users sure about the assets and data being protected amidst any disaster.
Moreover, it is an important aspect of business wherein it assists in making sure that the organization is still able to assist customers in the time of any attack.
Difference Between Business Continuity and Disaster Recovery
Business Continuity deals with the situation wherein it assists the organization to function with its operations at a certain level. It includes a plan wherein it guides the organization as to how they can perform function smoothly even if operating from the new location.
Disaster Recovery involves the measures a business takes in responding to any crisis so as to business operations could restart as quickly as possible.
What Are the Key Steps in Business Continuity Planning?
Below discussed are some of the key components that assist us in maintaining business continuity planning:
Identifying Objectives of Plan
Every business operates differently. So in order to apply business continuity planning organizations need to shortlist their objectives.
At the broadest level, the job of a business continuity plan is to keep essential business activities up and running with minimum disruptions.
Team Formation
People should be aware of the fact as to who will be in charge in an emergency.
Users need to form a team with members from across the organization.
Such team members will also play a role in planning as well as the testing process around the year.
The support of top management will also provide the business with every attention it needs.
Impact Analysis
As the name suggests it will provide users with information about the impact of the disaster that the business had faced.
It will provide information related to the disruptions that had happened during the disaster.
It also identifies the activities that are critical to business and the time frame within which it needs completion.
Planning
In the business impact process, it records everything and develops plans suitable for disaster as well as recoveries.
The plan should include goals, objectives, data storage requirements, training, etc.
Recovery Procedures
Once users have shortlisted their objectives, they have to look at the recovery procedures too.
In case of any disaster, how to restore the data and how to store it after recovery. This needs to be pre-identified too.
Users will have to evaluate the impact of the disaster on various assets and how to recover them and how much time will it consume.
Testing
If you have a business continuity plan ready or implemented, you surely have to test it again and again.
An outdated business continuity plan can affect your business.
Conduct frequent testing that should cover everything from application to communications in order to be sure of the plan being applied.
Understanding Risks Involved
Users need to take this step very seriously.
Users should be accurate in evaluating what could be at risk during the time of crisis.
The teams need to have ample discussions about the potential threats or risks that can hamper business in such a crisis.
Tapping Every Business Function
Address every business function while rolling out a business continuity plan.
Some of the points that users should be aware of while tapping every business function are as follows:
- The level of risks involved, impact on customers and staff, available financial resources, etc.
- Users should work under a strict timeline to complete the set goals.
Documentation
Documentation of every step involved right from the starting of a plan to the end i.e execution of plans, is very important.
Documenting can assist users in understanding the whole procedure in nearby future if any crisis strikes the company again.
Practice and Monitor
Drafts of the plans need to be submitted to the top management so as to take them into confidence.
Regular drills of tests, need to take place in order to test the ideas related to the plan to evaluate their parameters of being successful.
Here the employees of the organizations will play a vital role. They need training for such a crisis.
Lastly, the business risks are evolving on daily basis.
Thus sticking to an old business continuity plan won’t prove good to the company, thus this has needs updation as necessary.
Conclusion
Business continuity plans need to be applied at every level of the organization. The success of business continuity planning depends on the people engaged with it. Above mentioned steps will assist users in forming a successful business continuity plan to prepare themselves for any future crisis.
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