Business Continuity Planning

A business continuity plan is a collection of proactive strategies developed to prevent disasters as well as other unexpected interruptions. They help companies avoid reputational, legal and financial consequences that could otherwise harm their value in the marketplace or undermine confidence among consumers. Making and managing a business continuity plan requires substantial resources and knowledge. Employees from other departments such as marketing human resources, accounting, and legal, have to be involved in the process.

A solid business continuity strategy will include a thorough analysis of the organization’s key functions. This analysis will help identify which processes are the most crucial and what they rely on for success. The analysis should include a consideration of the impact a catastrophe could affect these functions. The ideal business continuity plan should include recovery procedures for each of these vital tasks.

After the business continuity analysis has been completed, the business must develop and implement its business continuity plan. The process is often complicated due to the need to balance the demands of the business and the constraints of a limited resource.

The business continuity plan should be tested and updated regularly. Conducting these tests, which can be as simple as tabletop exercises or more complex workplace simulations, verifies that the plan works and efficient. Testing can also reveal areas where theoretical solutions might not work in actual situations and allow the company to modify its procedures accordingly. Regular reviews and updates will ensure that the business continuity plan is in line with the organization’s processes, technology and personnel.

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