BCM is the strategic and tactical capability of the organisation to plan for, and respond to, incidents and business disruptions in order to continue business operations at an acceptable, pre-defined level.
BCM substantially improves the chances of business survival following a major disruption to critical operations by identifying mission critical activities (and prioritising their recovery) prior to an unforeseen event.
It identifies the tolerance to interruption of business processes that must be recovered and predetermines therefore the required recovery time frames (known as RTO – Recovery Time Objectives).
In summary, the BCM process generates practical recovery strategies and continuity plans which, once tested, renders the organisation resilient to disastrous events by ensuring that the organisation can continue to supply critical products and services during adverse operating conditions.
80% of companies that do not have a viable business continuity plan and suffer a disaster, go out of business within just 18 months of that disaster.
What is a Disruptive Event? Some of these are perhaps obvious but, have you considered what would happen if there was a gas leak in the street and the police prevented access to your building? What if your communications lines were cut off for a week – how would you cope?
Is supply chain management a component of BCM? A: Yes. If you lost a key supplier and have no contingency plan, you could be compromised. Have you asked your supplier if they have a BCM plan? Have you seen it?
Is BCM Enterprise Risk Management? A: No. It is more aligned to operational and reputational risk.
Is there legislation that insists my company must have a BCM plan? A: it depends which industry you are in. Financial services companies must have a viable plan as must solicitor practices. Check with your industry forums.
Is my bank a stakeholder in my business? A: Yes if you borrow from them or depend on them in any way. Stakeholders are entities that have an influence on (or are influenced by) your company.
Disaster recovery is an element of BCM and focuses on post disaster activity. BCM prevents as well as cures.
Business needs to focus on the recovery of critical business processes.
Businesses invariably have a critical dependency on IT. Recovery of IT infrastructure accordingly remains crucial to the recovery of operations and is the origin of most externally available disaster recovery services.
BusinessAssist includes an emergency recovery office (this is disaster recovery).
That concludes the training on Business Continuity Management. Thank you. Now complete the online Continuity Management Test which will then automatically produce a Business Continuity Plan for you.