This is the 4th article in the series "Popular Risk management". The aim of the series is to describe the main Risk management topics in simple, clear and concise language. Please send your comments to: email@example.com
Written by Boris Agranovich
Discover the 5 elements of a successful Business Continuity management.
last 3 years the economies and companies operate in a crisis environment. Many
observers even predict that our society is in some stage of the total collapse
of the capitalistic system. This article won’t provide a solution for the global
issues, but it describes how to establish a solid Business continuity framework
that will navigate your organization in case of emergency. What elements and
tools are vital for the solid and successful Business Continuity plan?
Element 1: Set up a solid BCM Programme Management structure
Programme management is at the centre of the BCM process and it establishes the approach to business continuity. The participation of top management is of key importance to ensuring that the BCM process is correctly introduced, adequately supported and established as part of the company’s culture. Programme management includes three steps:
· Assigning Roles and Responsibilities (Governance)
Business unit management is ultimately responsible for the continuity of the business under adverse circumstances and accountable to ensure appropriate processes are implemented in the business unit.
Business unit management must appoint a person with appropriate seniority and authority to be accountable for BCM policy and implementation.
Business unit management must appoint a team to implement and maintain a BCM programme.
· Implementing Business Continuity in the organisation by communication of the BCM programme to stakeholders, arrangement of appropriate training for staff and exercising of the business continuity capability
· On-going Management activities must ensure that business continuity is embedded in the organisation. Each component and process of the business unit’s capability must be regularly reviewed, tested and updated.
Element 2: Understand your organisation.
The aim of this phase is to establish an understanding of the business through the identification of its key products, services, critical activities and resources that support them. The key activities during this phase are: Business Continuity Risk Assessment; Business Impact Analysis and determination of continuity requirements.
As a result of the previous analysis, the business unit will be able to
choose the appropriate continuity strategies to enable it to meet its recovery
The following items must be included as part of the strategy:
You have to answer the following questions per critical process: how likely is it that a critical asset or process will fail and what are the consequences.
Effective Business Continuity Management strives to:
This is achieved through:
1. High-level principles for business continuity. Basel Committee
2. BS25999 Business Continuity Management, Code of practice (British Standards Institute)
Is your business need a Business Continuity Plan, but have never had the resources or expertise to create one? Do you already have a business continuity plan? Perhaps it's out of date and you're not sure it contains the right information?
We in the GlobalRisk Community have just literally scratched the surface of what you can achieve. We analyzed dozens of best practices, policies and procedures of both leading financial institutuions and corporates and we created the GRC Business Continuity toolkit.
GRC Business Continuity Tool Box empowers you to plan for any crisis.
Included in the tool kit:
* A Business Impact Analysis questionnaire. 11 pages
* BCP template. 20 pages
* BCRA questionnaire. 6 pages
* BIA for corporates. 4 pages
* BIA procedures. 8 pages
* BC Risk analysis template. 2 pages
* Crisis management plan. 10 pages
* Sample vulnerabilities chart. A complete scoring methodology
* Technology recovery assessment. 5 pages
* Technology recovery plan. 13 pages
* BC glossary. 13 pages
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