Business Continuity Management
What is Business Continuity Management?
Business Continuity Management is defined as ‘a holistic management process that identifies potential threats to an organisation and the impacts to business operations that those threats if realised, might cause; which provides a framework for building organisational resilience with the capability for an effective response that safeguards the interests of its key stakeholders, reputation, brand and value-creating activities.’ Business Continuity Institute.
Why is Business Continuity Management important?
All Businesses can suffer from disruptions. Businesses maybe affected by the loss of the following organisational resources:
- Staff (strike, pandemic);
- Premises (fire, flood, local evacuation);
- Technology (ICT);
- Information (paper, electronic);
- Supplies (power, fuel); and
- Stakeholders (partners, clients, customers).
Business Continuity Plans
The Business Continuity Plan (BCP) is an essential part of any organisation’s response planning. It sets out how the business will operate following an incident and how it expects to return to ‘business as usual’ in the quickest possible time afterwards.
Business Continuity Plans should be clear, concise and proportionate to the needs of the organisation. Unplanned events can have catastrophic effects and the disruptive incidents can come from accidents, criminal activity or natural disasters. Preparing for disruptions which may affect your business will ensure a planned response that will enable the organisation to react effectively and continue business critical activities.
Guiding principles - how to develop Business Continuity arrangements
Business continuity should be considered by small companies as well as large corporations. The guiding principles are the same regardless of size:
- BCM programme management;
- Understanding the organisation;
- Determining BCM strategy
- Developing and implementing a BCM response; and
Exercising, maintaining and reviewing.