- An analysis of all critical functions within your business. ...
- A prioritized list of risks that pose a severe or even catastrophic threat to your business. ...
- A list of specific strategies (or mitigation activities) that help protect the critical components you identified earlier in the BCP.
What are the three continuity strategy plans?
Companies must separate business continuity planning into three phases: planning and prevention (resolve phase), disaster response (respond phase) and, return to normal (rebuild phase).2007-03-06
What are the four P's of business continuity planning?
When devising a business continuity strategy, you should consider the 4 P's, which are: people (staff and customers), processes (the technology and processes required), premises and providers, suppliers and partners.2018-06-27
What are the four components of business continuity planning?
- Sponsored. A continuity program requires sponsorship—support, involvement and funding—from the executive management team. ...
- Accountable. ...
- Prioritized. ...
- Continuous. ...
- BC/DR program goal: keep the business operational.
What can go wrong with a business continuity plan?
Financial risk. Financial loss may be among other consequences of a lack of a business continuity plan. The cost of business interruption varies from $5.8 million due to fire or explosion, $4.4 million due to a storm, or $0.55 million due to water damages†. The longer the downtime is, the higher the losses.2019-04-08
What are the main reasons to develop a business continuity plan?
- Minimizing Downtime. The primary reason for a business continuity plan is to eliminate downtime. ...
- Protecting What's Important. ...
- Communicating with Confidence. ...
- Resuming Operations. ...
- Ensuring Your Recovery.