Post outbreak of the coronavirus, the buzz word in the industry is ‘do we have a BCP to handle global pandemic outbreaks?’
This is our simple guide for Business Continuity Management Services and how to create an effective business continuity plan.
A Business continuity plan (BCP) is a plan of action aimed at ensuring that business will continue during and after a disaster.
It is our duty to forewarn –
Historical reference ‘on calamities’– Chanakya’s Arthashastra, 300 BC
According to Kautilya, a variety of calamities can afflict the population of a state as most people lived in the countryside outside the fortified town.
The sufferings of the people could be due to acts of god or men.
Calamities due to acts of god are fire, floods, diseases and epidemics and famine. Other calamities could include ‘divine origins’ like rats, wild animals, snakes and evil spirits. Calamities by men are many — for e.g. destructions by armies, internal fighting, etc.
Chanakya opines that it is the duty of the King to protect his subjects from all forms of calamities.
A Business Organization (delivering products and/or services) has several stakeholders — Owners / Promoters, Management, Employees, Suppliers, Customers, Partners, Service Providers, Regulators, etc.
A ‘well run’ organization enjoys the patronage of customers, its own employees and enjoys an excellent reputation in the eyes of the general public.
However, on the flip side, it is the stark reality that every organization is at a risk of facing potential disruptions or disasters. (These are not to be confused with “common Operation impacting events’).
So, it is imperative that the Leadership Team
In short — one of the biggest challenges for the ‘business’ is ensuring that the business keeps operating, even during adverse times.
Therefore, the Leadership Team has to recognize that “Risks to Business” can come in any form and are bound to happen, whatever may be the ‘Line of Business’.
So, apart from growing the organization and ensuring smooth operations, it’s the job of the Leadership Team to protect their own organizations from danger and harm.
Business Continuity Planning Solutions lists out the necessary steps and relevant processes that need to be put in use to identify and protect business processes required to maintain an acceptable level of operations during a crisis.
Steps to Developing an Effective Business Continuity Plan
Few of the key steps are listed below:
When to invoke BCP
Here you need to find the best End-to-End Business Continuity Testing Service
From the above, it is clear that every organization will have its own unique BCP and will not match with any other organization. ‘One size fits all’ does not work out here, and it can have tremendous backlash if implemented.
One cannot predict when an event will become an incident eventually leading to an emergency (or a disaster situation)
So, it is imperative that an organization has a structured “back up plan” to counteract disaster situations.
The BCP developed meticulously (exercised, tested and refined based on learnings) will ensure that the organization can continue to operate and deliver products or services, at an acceptable level (MBCO), even when a disaster strikes.
Few Advantages include
Why Bother? If you Not having a Business Continuity Plan
Few of the consequences of not having a BCP.
2. Unmanageable Financial Loss:
3. Leading to shut down: based on pts 1 and 2, slowly but surely.
Popular Terms in BCP
Recovery Time Objective (RTO):
The recovery time objective (RTO) is the targeted duration of time and a service level within which a business process must be restored after a disaster (or disruption) in order to avoid unacceptable consequences associated with a break in business continuity. (measured in hours or days)
Maximum Allowable Outage (MAO):
The Maximum Acceptable Outage (MAO) is the maximum amount of time a system/service/process can be unavailable before its loss will compromise the organization’s objectives or survival (also known as MTPoD, Maximum Tolerable Period of disruption).
Minimum Business Continuity Objective (MBCO):
Minimum Business Continuity Objective (MBCO) is the minimum level of services and/or products that is acceptable to the organization to achieve its business objectives during an incident, emergency or disaster.
Recovery Point Objective:
The amount of data an organization can afford to lose in the event of a disaster. Or, the data which an organization needs to have to resume operations, post a disaster scenario. Commonly referred to like the latest backup data just before the disaster (as decided by the Business).