A business continuity plan is an organized set of proactive strategies designed to prevent disasters or other unexpected disruptions. They help companies stay clear of regulatory, financial, and reputational consequences which can otherwise harm their market value or damage consumer confidence. The creation and management of a business continuity strategy requires considerable expertise and resources. Other employees including marketing, accounting, human resources, and legal, need to be involved in the process.
A good business continuity plan will include a detailed analysis of the organization’s key functions. This analysis can help identify which processes are most important and what they rely on for success. The analysis should also include a review of the impact a disaster might have on these functions. In the ideal scenario, the business continuity plan should include recovery procedures for each of these essential functions.
Once the business continuity analysis is completed, the organization will need to develop and implement an action plan for business continuity. The process can be complicated due to the need to strike an equilibrium between the business’s needs and the constraints of its limited resources.
The business continuity plan should be regularly tested and updated. The tests can range from simple tabletop exercises to more complex simulations of workplaces. They confirm that the plan is in place and useful. Testing can also identify where theoretical solutions won’t work in real-world scenarios and allow the organization to adapt the procedures accordingly. Regular cybersecurity checklist review and update of the plan will ensure that the business continuity plan is in sync with the organization’s technology, processes and personnel.