How to Make a Business Continuity Plan: A Step by Step Guide
Disasters happen when we least expect it. Being prepared for the worst case scenario is what separates you from the other companies who aren’t.
If you’re thinking ahead about the well being of your company or looking to revamp your business continuity plan, here’s a guide to help you plan for when the worst case scenario becomes a reality.
What is a Business Continuity Plan?
A business continuity plan is an emergency strategy mapped out by a company in case anything goes wrong.
Scenarios can include anything from natural disasters to emergencies or fires. In these cases, it’s a company’s responsibility to make sure a BCP is put in place to make sure the business can continue operations during or after the event.
Budgeting and Meeting
As with all major decisions and plans a company must make, meeting to decide the specifics of a continuity plan is an important process. It must be done before moving forward.
Cover critical points in the meeting, such as what the BCP should include and how much of the budget will be used for it.
The budget has the most impact on how practical it is to make the business continuity plan. This year, 34.4 percent of business’s claim budgets will be an obstacle to creating their own continuity plans.
Forming a Team
It is critical to choose team members who will execute the plan and make sure everything is done correctly. You want to make sure you have the right people for each task.
Putting someone in charge of communicating between team members and those in management is important.
There will need to be someone in charge of the budget and training. They need to make sure that team members follow the plan and that the funds go to the agreed upon items.
You’ll also need to incorporate subject experts from different areas of the company. This will help with input that could be helpful with filling in information.
Analyze, Test, and Implement Your Plan
Conducting a Business Impact Analysis is your first step toward success.
This is to determine the impact of a scenario and how it would affect the business in the long run. It’s also used to determine what funds would need to be channeled into more critical functions in the case of a disaster.
Once this has been figured out, the next step is testing the plan after the necessary team members have been trained.
Testing and implementing the continuity plan is a good way for everyone to get an idea of their part in the action. Continuity team members need to closely watch, making notes for anything that doesn’t work or needs to be tweaked.
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