A business continuity plan is a collection of proactive strategies that are designed to prevent disasters and other unexpected disruptions. They help companies avoid regulatory, financial, and reputational consequences which can otherwise harm their market value or damage consumer confidence. Making and https://happyboardroom.com/ managing a business continuity plan requires a lot of resources and expertise. Alongside IT personnel as well as employees from departments such as marketing, accounting, human resources and legal are also required to participate in the process.

A good business continuity plan will include a thorough analysis on the organization’s core functions. This analysis will help determine which processes are the most crucial and what they depend on to be successful. The analysis should also include an assessment of the impact the event of a catastrophe could affect these processes. Ideally, the business continuity plan should include recovery procedures for each of these essential tasks.

When the business continuity assessment is completed, the company must develop and implement a business continuity plan. The process is often complicated because of the need to balance the needs of the business and the limitations of resources.

The business continuity plan must be regularly tested and revised. The tests can vary from simple tabletop exercises to complex simulations of workplaces. They verify that the plan is efficient and practical. Testing can also identify instances where the theoretical solutions don’t work in real-world scenarios and permit the organization to adapt the procedures accordingly. In addition, regular plan review and updates ensure that the business continuity plan is in line with the company’s current technology, processes and personnel.