Business continuity plans are pre-drafted, pre-determined protocols for how your organization will overcome a business disruption caused by an emergency.
Containing a serialized checklist of risk-mitigating actions to take, business continuity planning addresses both natural and human disasters that can strike, ultimately bringing operations to a halt.
BCP checklists ensure when such inevitable disruptions strike — be it a storm, a piece of software failure or a supply chain interruption — they’re contained and controlled incidents, not escalating ones.
Because of this preparedness, business continuity plans also contain many benefits: Organizations need to assure their customers, third-party vendors and partners that things are under control in the event of an emergency.
Teams understand what’s expected of them amidst the BCP procedures as well as who to turn to with further questions or concerns.
A significant part of brand reputation hinges on the end quality of your product or services.These risk areas a BIA helps identify include, but aren’t limited to, domains like: From BIA’s calculations, you determine which operations are most critically valuable to your company’s existence.In addition, they also outline worst-case but acceptable downtime projections, including manageable revenue losses due to operational disruptions and how one downed process affects others downstream.Benjamin Franklin said it best: By failing to prepare, you’re preparing to fail.In few places does this strike closer to home than business continuity planning (BCP).This is their central tenet, one that — if mismanaged — opens your organization to a cacophony of costly damage control initiatives more expensive and more cumbersome than preparing for that incident in the first place.Technology outages alone — that is, temporarily downed networks — cost the average small or medium business (SMB) around ,600 per minute.Such disaster scenarios include: The goal of a BCP is to mitigate the damage and reinstate operations before any of the above scenarios become existential business threats.Even small-seeming events like a severe storm damaging physical building infrastructure can trigger consequences affecting other core business domains.For example, consider the effects of a tornado that destroys the only third-party warehousing service you use to store your inventory, or a ransomware attack holding hostage your customers’ payment and account information.When these incidents strike, a business continuity plan outlines what to do, when to do it and who takes care of it, keeping risks mitigated and the business above water.