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 on track, time after time.
Building a business continuity plan is not rocket science. There are a few factors that need to be focused on at all times. Here is a quick overview of these factors.
#1 Identification of Objectives
The very first step in building the business continuity plan would be identifying the goals and the 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
The business continuity team can be broken into two categories: task-oriented and command-control. 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 of the business continuity team. When the first responder fails to appear for work, the backup can promptly pitch in. Consequently, 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.The company requires assessing the presence of potential threats. Potential threats will affect every aspect of the business. It is crucial for leaders to identify and even predict these threats.Upon identifying the threats, the business continuity team needs to promptly put together a suitable template.This template would help in recovering from the threat.
The business continuity plan intends to incorporate an analysis report with specific details for each and every scenario.
#4: Critical Functions and Primary Business Areas
The venture has to recognize its primary needs. As a part of this process, it is important for you to understand and decode all critical processes involved in the business. Any of these processes can cause damage.
Damage to a company comes in multiple forms. It could be anything like a loss in revenue, damage to the company’s social presence, or even problems with the company’s resources. Each of these incidents needs to be understood and classified as high, medium, or low in priority.
#5: Dependencies and Pain Points
Once a problem is identified, the team needs to analyze it in terms of downtime and stipulations. Once again, the rating system mentioned in “#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.
