Introduction to business continuity planning (BCP)
Business continuity planning is a contingency plan created to oppose, or balance the company with recovery when threats to the business are large. In simpler terms, it may be understood as a backup, though BCP involves more than simply disaster management. It is a document that outlines the safety of assets and process and resources, human and material, against any unplanned disruption to the business operations.
Understanding Business Continuity Planning
BCP forms a major part of the company’s risk management policy, because it takes into account all the risks, natural, unplanned and possible future mistakes. It is a plan requiring constant revision, in what processes the disruption would occur and how it would affect, monitors how to prevent them or how to mitigate them in an attempt, and tests preconceived procedures to ensure safety.
Reliance on insurance is brave, but having a comprehensive BCP is smart and will cut down on unnecessary losses and costs in time of need. The idea behind a BCP is to ensure continuity, or speedy recovery in time of distress to the company.
Highlights of Business Continuity Planning
A key aspect of BCP is the checklist that compels businesses and industries to determine the flow of threat into the company, thereby helping in creating a plan that minimizes losses and costs.
While at large BCP almost always uses inputs from people from the Board of Directors and other key shareholders, the plan itself must be known by all people working in the company, and not just the people associated with the plan. This decentralized planning and revision is critical to reduce chaos and wastage.
A BCP is useless without its revisions and constant configuration of its tests to work under various risk scenarios.
A BCP Impact Analysis is where the planning for such a contingency begins. The analysis is essential to decide the threats and areas most prone to them. It offers a summary of the direction of disaster and the subsequent loss that may arrive with it.
