Definition of Business Continuity Plan
Business Continuity planning can be defined as the method which focuses on creating a system for preventing and recovery of different threats for a firm. The plan aims to emphasize that all the personnel and assets are completely protected. It aims in providing quick function in case of disaster. BCP emphasizes on convenience personnel in advance which requires input from different individual from some of the key stakeholders and personnel’s (Montshiwa, Nagahira, Shuichi 2016, 694). BCP aims in defining various kind of risk which can easily affect the overall performance of operation of organization. It merely focus on having a risk management strategy for different kind of involved risk like natural disasters like flood, fire and cyber-attacks. BCP are considered to be an important part for any provided business.
In the report, an overview has been provided with respect to issues in current business continuity plan that focus on staffing and training plans. The next part deals with importance of legal representative for testing business continuity plan. An example has been provided with respect to law and regulation for organization so that it can remain compliant.
When the business of the organization is damaged it can result in huge amount of money. Loss of revenue along with extra expense, can result in reduction of overall profit. Insurance does not provide coverage to all the cost and even cannot replace the customer defects in the competition (Blos, Maurício, Sérgio 2015, 1163). Business continuity plan is considered to be important for continuing the business. Developing business continuity plan comprises of four steps like
- There is need for conducting an impact analysis on business for analyzing some time-sensitive or important business function (Haidzir, Siti 2018). It comes up with certain processes and resource which are required for supporting it.
- There is need for proper method for identifying and implementing the critical business aspects and processes.
- Most of the firm comes up with business continuity team so that it can compile a business continuity plan for managing business damages.
- There is need for conducting training for business continuity team and testing for evaluation of certain strategies and plan.
Information technology merely comprises of certain components like networks, server, desktop, laptops and wireless devices. Capability of running both office production and enterprise software is found to be critical (Mattei and Satterly, 2016). There is need for proper recovery techniques for the information technology that requires to be developed. It is done so that technology can be easily restored in a given time for meeting the business needs. Manual workload is a section of IT plan where the business can easily continue along with restoring the system.
It helps in analyzing the effect of result that is generated from the disruption of business function and related processes. It can make use of information for decision making about strategies and recovery priorities. Worksheet on operational and financial impact is required for capturing all the information at the time of business impact analysis (Tracey, 2017). The worksheet needs to be done by business function and process manager that have sufficient knowledge about business. The given function or process with highest potential can result in financial and impact analysis required for restoration. That particular instance where processes and function can be easily recovered prior to accepting consequences is defined as the recovery time objective.
Issues in Current BCP Staffing and Training Plans
Proper recovery of some time-sensitive method need some important resources. Requirements of business continuity worksheet need to be done by a different function of business and process related managers. There is need for disruption of incident for business operations and related resources that requirs for carrying out strategies. It aims to follow restoration of normal business operation (Fernando, Mahendra Sagara, 2017). The resources can easily come from any business or can be given by third parties. Resources are merely inclusive of employees, office space, equipment, technology, production facilities, and inventory management like raw materials, different utilities and third party services.
Worksheet based on operational and financial impact and requirements of business continuity resources need to be provided to the business process manager along with proper instruction about the whole method (Sambo, 2016). In addition, it also focuses on the fact that how information will be used in proper way.
If a particular facility is found damaged then the overall production machinery stops. In this way there is a failure at supplier end to provide all the information technology that is damaged. Impact on business and financial loss will develop with every passing year (Rackham 2018, 57). Techniques for recovery are nothing but alternate method for restoring business process to an acceptable level. There is need for following a business disruption and giving priority to recovery time which is being developed at the time of business impact analysis.
Recovery method is merely inclusive of people, facilities, materials, information and related technology. By the help of proper analysis of resources which is needed for executing certain recovery strategies that is needed for identifying gaps. The most suitable method is all about involving contract with third parties and entering in partnership. In addition, it also focus on displaying other activities in the organization (Rezaei Soufi and Torabi 2019, 800). Staff with complete in-depth knowledge need to have business function and related process which is required for understanding the most suitable process. The most suitable option is all about analyzing and providing management with tools for approval.
The most suitable option is all about usage for controlled facilities that carry out the same work. There are many operations which can be relocated to another site considering that both are not impacted by same incident. Telecommunication is the most suitable method where staff members can even work from home by using remote connectivity. This is used like a combination of different strategies for reducing other site need. This method need to ensure that telecommuters come up suitable environment (Rabbani, Soufi, and Torabi 2016, 12). In addition, they are equipment with process to system with needed application and related data and peripherals. It ensures that there is suitable broadband connection.
Importance of Legal Representatives in Testing BCP
In case of emergency, the space in other facilities like cafeterias and conference room can be easily changed into office space as per requirement. There is need for changing office space with equipment and connectivity that is required for meeting the workers need. There are many vendors which supports business continuity and strategy for recovery of information technology (Tracey 2017). There are many external suppliers that provide business environment which is inclusive of office space and data centers. There are many other option like technology provision which is equipped with replacement machinery and other related equipment. There are many methods which are needed for recovery of manufacturing operation. Most of the strategies are merely inclusive of both owned and leased facilities (Alberto, Paulo and Tiago Rojão, 2019). The manufacturing strategies are merely inclusive of
- Shifting of production that is from one facility to another.
- Increase in overall manufacturing output which is needed for operational facilities.
- Giving priority to production.
- Proper maintaining of raw materials and finished good inventory.
- Reallocation of current inventory and buyback of inventory.
- Insurance of purchasing business interruption.
Manual Workarounds: When telephone is ringing and key staff are busy in conversation with customers for the input of order in the system. Electronic order system completely checks the availability of inventory and processing payment. In addition, it also focus on routing orders to distributed centers. If in this case, the system goes down then the staff will required pen and paper. The staff members of this organization need to come up with electronic paper and pen for order processing until and unless electronic system has back up. This will help in saving customer and no order will be lost.
Coming up with manual workarounds: There is need for identifying certain steps in this process by establishing a process which can help. There is need for considering the aspect of information like external interfaces, task and points for manual intervention.
There is need for creating proper control logs for documentation of transaction and keeping a track of its process by making use of manual system.
The legal representative aims to highlight that there are legal procedure which is related to abilities of agencies for addressing the plan. There is need of legal representative which should be participated in the plan for ensuring that all the potential liabilities are completely addressed in plan. In addition, lawyers can carry out review on collected recovery services (Sahebjamnia 2015, 270). There is involvement of team leader for addressing each of business unit which is responsible for carrying out activities like team planning, testing and recovery. Team leaders are nothing but first line of management which has strong skills in leadership. It is completely responsible for various activities in between agency recovery option and related team leaders. All the required skills and abilities that are combined from team members need to cover in range of responsibilities. Team members are supervisor who are merely involved in business unit recovery method in case of disaster (Podaras 2016). Team members look for searching their required parts of plan along with meeting deadline.
Compliance with Laws and Regulations
Business continuity plan is good for any business organization but it comes up with many legal requirements. Both laws and regulation tend to vary from one country to another. There is some basic expectation which the organization need to act accordingly (Blos, Maurício Sérgio 2015, 1163). Both integrity and security of data is considered to be important part of expectation.
Legislation: There are many government laws which is inclusive of business continuity management. It is very much similar in nature that is disaster recovery, crisis management and emergency response which is considered to be a part of BCM legislation (Sadgrove, Kit 2016). To be included in this category, there is need for enforcing legislation which is passed by state or provincial government. It is completely based on legal structure in each section of the country.
Regulation: There are some mandatory rules which are required for guiding documents from different regulatory bodies in different domains like financial services, Oil, gas and chemicals. It can be even constructed like having some implication for BCM provision which requires to be included (Jingye and Tanaka Takehiro 2016, 290). The general help is all about guiding documents that are included in good practices.
Business continuity planning are nothing but corrective measures which is established in a firm. It is mainly needed for governing regular and future activities that lie within it. The measures aims to ensure that there is smooth running of business for all the activities. Any kind of failure for establishing plan can result in collapsing of the whole organization and low profit (Niemi, Sanna 2019). It can even shut down the down the business that result in huge amount of loss to business. Business continuity planning needs to be done by an organization which takes into account the customers in serious way. Continuous planning can easily take the business owner to next level in competition in the same domain.
Business continuous planning comes up with certain advantages like
- At the planning stage when the business is booming up it aims in establishing possible weakness and challenges which the organization can face. After that, it aims to outline an effective solution which is developed earlier.
- The biggest plus point is that financial organization aims to stand for gaining that particular incident system (Mattei and Satterly, 2016). It has capability to identify different kind of threats along with plan in advance. The threats range from natural epidemics and system failure which results from software issues.
- Most of the financial organization comes up with increased ability for effective coordination (Niemimaa, Marko 2015, 4). It also aims in maintaining response direction so that organization can have insight for importance of co-ordination for resources.
- Financial institutes come up with increased abilities so that they can maintain proper co-ordination and providing response direction.
Business continuity plan comes up with numerous disadvantages as a result of many threat like natural disaster, accident, result of sabotage and even cybersecurity attacks like
Loss of revenue and profits: When a business is not operating for a week, the income of that particular business is that particular week is gone. Similar if a manufacturing plant is unable to operate for couple of days, then the organization will not be able to operate for couple of days (Fernando, Mahendra Sagara, 2017). The organization will not be able to produce average output for the finished good required for distribution.
Recovery Techniques for IT
Higher cost and expenses: Disruption of business ultimately leads to much more spending on any kind of accidental expenses for providing control damage. The disruption is mainly caused by some leading closure of manufacturing facilities (Rezaei Soufi and Torabi 2019, 800). It comes up with much higher cost where facilities are damaged and will require proper repairing.
Loss of customers: When the usual source of specific products or services are becoming unavailable or even unable to deliver goods. Then the customers need to look for somewhere else for that particular thing (Rabbani, Soufi, and Torabi 2016, 12). It is even seen that, loyal customers are even swayed out for their loyalties if the business fall out of occasion.
Drop-in reputation of business: The overall reputation of business will be extent of ruin. The very moment when the customer is being unable to deliver products and services which is being promised then that particular organization will suffer trust level of customer (Mansol, Noorul Halimin and Waidah Ismail, 2015, 88). Stakeholder and other members of the industry will suffer a lot.
Conclusion
The above pages help us in concluding that this report is all about Business continuity planning. It can be defined as the method of creating a plan which is required for proper business running. Any kind of event like disruption of normal flow in a business can impact the revenue to large extent. In addition, it can even cost the organization with valuable clients if the provided situation are not handled properly. Some of the important elements in business continuity planning is all about providing alternative for communication, meeting, research and lastly preparation. Business continuity plan is very much helpful in reducing the financial impact which can damage the business flow. The plan is created so that employees remain calm and provide guidance to employees for their role at the time of recovery. The absence of plan can result in loss of some valuable client which is not available to serve them in vital moments. There are large number of events which can affect the business flow in most of the legal firms. Some of natural disaster like flood or earthquake can hamper facilities and records. Threats and disruption ultimately result in loss of revenue and much high cost. It ultimately result in drop in overall profitability and business cannot completely depend on insurance only as it does not cover all cost. Business around the globe are very much prone to number of disasters which vary from minor to catastrophic. BCP are considered to be very much different from disaster recovery plan that emphasizes on recovery of organization IT system soon after crisis.
Business Impact Analysis
References
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