By definition, the Business Continuity Plan is required to identify procedures that can prevent any kind of damage to the execution of the business. The plan proves to be useful in maintaining productivity and also recovering from a disaster, or national emergency.
Regardless of the size of the business, it is important to put together a business continuity plan. It identifies all potential threats to the company. In fact, it decodes the risk of social engineering attacks and even utility disruptions. In the long run, the business continuity plan is responsible for keeping the brand in track, time after time.
Building a business continuity plan is not rocket science. There are a few factors, which need to focus upon at all times. Here is a quick walk of these factors.
#1 Identification of Objectives
The very first step in building the business continuity plan would be identifying the goals and a plan that surrounds them. You need to be aware of how much money you are willing to spend on the plan. Budgeting involves several hours of research and intense preparation. But, it will help you pull together a sensible business continuity plan. After all, the plan you devise needs to support your organization as a whole. And, it must be a flexible, and scalable plan.
#2 The Team
business continuity team can be broken into two categories: task-oriented, and the command control team. Each team has a unique set of roles and responsibilities. It is important for the team to understand its primary responsibility. Their titles, protocols, and contact details should be captured from day one.
If possible, it is important to assign backup contacts for each member in the business continuity team. When the first responder fails to appear for work, the backup can pitch in. That way, the overall functionality of the continuity team will not be impacted.
#3 Business Impact Analysis
Business impact analysis plays an integral role in the business continuity plan. It is required to assess the presence of potential threats to the company. Every aspect of the business will be subject to potential threats. It is crucial for leaders to identify, and even predict these threats. Once the threats are identified, a suitable template needs to be put together by the business continuity team. This template would help in recovering from the threat.
The business continuity plan is meant to have an analysis report, with specific details for each and every scenario.
#4 Critical Functions and Primary Business Areas
The primary needs of the venture have to be recognized. As a part of this process, it is important for you to understand and decode all critical processes involved in the business. Damage can be caused to any of these processes.
Damage to a company comes in multiple forms. It could be anything like the loss in revenue, damage to the company’s social presence, and even problems to the company’s resources. Each of these incidents needs to understand and classified as high, medium or low in priority.
#5 Dependencies and Pain Points
Once a problem is identified, it needs to be analyzed in terms of downtime, and stipulations. Once again, the rating system mentioned on “#4” will help you figure out if key business areas are affected or not.
Tests and drills can be utilized to see if the business continuity plan is fail-proof or not.
#6 Maintaining Operations
Finally, you need to put together a strategy for maintaining all operations in the company. As your business evolves, this aspect needs to be revisited. Always begin by understanding the current, and most effective recovery capabilities of the company. And, these methods need to be improvised.