A business continuity plan is an organized set of proactive strategies created to avoid disasters and other disruptions that are unexpected. The plans help companies avoid regulatory, financial and reputational consequences which could otherwise damage their value in the marketplace or erode confidence paperless board meetings in the market. In the process of creating and managing a company continuity plan requires a significant amount of resources and experience. Employees from other departments such as marketing human resources, accounting, and legal, have to be involved in the process.
A solid business continuity plan is one that provides a thorough analysis of the core functions of the business. This analysis can help determine the processes that are most important and what they depend on for their success. The analysis should include an evaluation of the impact that a disaster could have on these functions. Ideally, the business continuity plan should include recovery procedures for each of these critical functions.
Once the analysis of business continuity has been completed, the organization must design and implement a business continuity plan. The process is often complicated because of the necessity of balancing the needs of the business against the constraints of a limited resource.
The business continuity plan must be reviewed and updated regularly. These tests can vary from simple tabletop exercises to complex workplace simulations. They verify that the plan is efficient and beneficial. Testing can also help determine areas where theoretical solutions may not work in real-world scenarios and allow the company to adjust its procedures accordingly. In addition, regular plan reviews and updates ensure the business continuity plan is in line with the latest technology, processes and personnel.