Business continuity encompasses planning and preparation to ensure that an organization can continue to operate in case of serious incidents or disasters and is able to recover to an operational state within a reasonably short period. Recovery: arrangements have to be made to recover or restore critical and less critical business functions that fail for some reason. Contingency: the organization establishes a generalized capability and readiness to cope effectively with whatever major incidents and disasters occur, including those that were not, and perhaps could not have been, foreseen. Contingency preparations constitute a last-resort key elements of a business plan pdf if resilience and recovery arrangements should prove inadequate in practice.
Such disasters may not necessarily have to occur in the place of business to have catastrophic impact in the globalized economy. The management of business continuity falls largely within the sphere of quality management and risk management, with some cross-over into related fields such as governance, information security and compliance.
Risk management is an important tool for business continuity as it provides a structured way to identify the sources of business disruption and assess their probability and harm. It is expected that all business functions, operations, supplies, systems, relationships, etc. Business Impact Analysis is the generally accepted risk management term for the process of determining the relative importance or criticality of those elements, and in turn drives the priorities, planning, preparations and other business continuity management activities.
One important way to achieve business continuity is the use of international standards, program development, and supporting policies. These standards ensure that proven methods and concepts for business continuity are used. As such, commitment by management to see business continuity as an important topic and assign people to work on it, remains the most important step in establishing business continuity. Requirements”, specifies a management system to manage an organization’s business continuity arrangements.
It is formal in style in order to facilitate compliance auditing and certification. Guidance” which provides more pragmatic advice concerning business continuity management. British Standard BS 25999 was a two-part business continuity management standard. BS 25999-1:2006 Business Continuity Management.