A business continuity plan is a collection of proactive strategies designed to avoid disasters or other unexpected interruptions. These plans can help companies avoid financial, regulatory, and reputational risks that could otherwise damage their market value or undermine confidence in the market. The development and management of a business continuity planning requires significant knowledge and resources. Alongside IT personnel, employees from critical departments like marketing, accounting, human resources and legal have to be involved in the process.
A strong business continuity plan involves a thorough analysis the organization’s key functions. This analysis helps determine which processes are most essential and which processes they rely on for success. The analysis should also include an assessment of the impact the effects of a disaster could impact these processes. In the ideal scenario, the business continuity plan should include recovery procedures for each of these crucial functions.
After the analysis of business continuity is completed, the company will need to develop and implement the business continuity plan. The process is often complicated because of the need to balance the demands of the business and the constraints of a limited resource.
The business continuity plan must be tested and reviewed regularly. Performing these tests which could be as simple as tabletop exercises or as complex as workplace simulations to ensure that the plan works and effective. Testing can also help identify areas where theoretical solutions will not work in real-world situations which allows the organization to modify its procedures accordingly. Regularly scheduled reviews and updates will ensure that the business continuity plan is in sync with the organization’s processes, technology and personnel.